Wells Fargo Honors Anna María Arías with the Creation of Memorial Business Fund for Latina Entrepreneurs
The leader in small business loans partners with United States Hispanic Camber of Commerce
and Latina Style Magazine to continue support for Latina business owners.
“The fund will identify and reward business owners who have demonstrated a dedication and commitment to the types of entrepreneurial efforts championed by Anna Maria,” said Elizabeth Isphording, Vice President of Small Business Marketing Communications for Wells Fargo. “We are proud to collaborate with LATINA Style Magazine and the United States Hispanic Chamber of Commerce (USHCC) to see that the seeds she planted in life will continue to grow for Latina business women.”
The program is named in memory of Arías who passed away in October 2001. The magazine was the first of its kind dedicated to the needs and concerns of Latina professionals across the nation. The Fund will recognize the accomplishments and successes of Latina businesswomen who exemplify the principles and ideals which Arias championed.
"I appreciate the interest on the part of Wells Fargo to continue Anna María’s vision of empowering Latinas and improving their economic condition," said her husband Robert E. Bard. As interim publisher of LATINAStyle magazine, Bard has dedicated his efforts to ensuring the success of his wife’s initiatives. He and members of the Arias family will participate in selecting the fund’s awardees.
As the nation’s leading provider of small business loans, Wells Fargo has a history with minority and women owned businesses. It announced the fund at the 12th Annual USHCC Legislative Conference held this past week. An initial $25,000 contribution will provide cash awards ranging from $1,000 to $5,000 to outstanding Latina business owners throughout the country.
“The USHCC is proud to partner with Wells Fargo to salute and celebrate the accomplishments of a true visionary,” said George Herrera, President and CEO of the USHCC. “Like Anna Maria, Latina entrepreneurs are leading the growth in the Hispanic small business community and in doing so are also creating paths for the next generation of Latinas to follow in their footsteps.”
In addition to the USHCC, the Fund will reach out to regional and local chambers of commerce and trade associations, economic development organizations, and even stand-alone businesses that can apply for the cash awards. It becomes yet another of many programs aimed at Hispanic small business owners. In 1997, Wells Fargo established a lending goal of $1 billion over six years to established Latino-owned businesses. Due to the success of the program, Wells Fargo raised the goal to $3 billion over ten years in November, 1999.
Since the program’s introduction, Wells Fargo has loaned close to $1 billion to more than 25,000 Latino-owned businesses nationwide. The Wells Fargo Latino Business Services program delivers comprehensive business services to small businesses, including credit cards and lines of credit, cash flow and payroll management services, and employee benefits.
Wells Fargo also has established three other programs for small business owners - the Women’s Business Services program in 1995, followed by the African American Business Services program in 1998, and most recently the Asian American Business Services program in February of this year.
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $308 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,400 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo provides capital and financial services to more than 1.5 million businesses with annual sales up to $10 million in the 50 United States, Puerto Rico, and Canada. As a leading financial services provider to the small-business market, Wells Fargo is the largest small-business lender in the nation of loans up to $100,000. Through its targeted programs alone, Wells Fargo has lent more than $9 billion to African-American, Latino, and Women owned businesses since 1995.
About LATINAStyle Magazine
LATINA Style was founded in 1994 with a U.S. circulation of 150,000 and a readership of over half a million. LATINA Style Magazine brings the Latina professional, business owner and college student all the information she needs to succeed in her endeavors. Among regular features, it highlights career opportunities, business opportunities, home and family issues, music,book, and movie reviews, travel tips, investment guidance, food and drink recipes, health advice-in short all the things that impact the quality of life of today’s professional and upcoming Latina.
The USHCC represents the interests of more than 1.2 million Hispanic-owned businesses in the United States and Puerto Rico, which earn more than $200 billion annually. It serves as the umbrella organization for more than 200 local Hispanic chambers nationwide, and it actively promotes the economic growth and development of Hispanic entrepreneurs. For more information about the USHCC and to request application for the Anna Maria Memorial Business Fund, visit www.ushcc.com.
Wells Fargo honors Anna Maria Arias with memorial business fund.
Interim Publisher of LATINAStyle Magazine Robert Bard (podium) acknowledges efforts by Wells Fargo to create the Anna Maria Arias Memorial Business Fund in honor of his late wife. The creation of the fund was announced at the 12th Annual United States Hispanic Chamber of Commerce Legislative Conference, held this past week in Washington, D.C. USHCC Chair Elizabeth Lisboa-Farrow (right) and President & CEO George Herrera (center) express their support for the project. Wells Fargo collaborated with LATINAStyle Magazine and the USHCC in establishing the fund, which will select deserving Latina business owners from across the nation to receive cash awards.