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Mayor Turner joins Houston's Fund for Social Justice and Financial Justice, Wells Fargo Launches OPEN FOR BUSINESS Grant Portal

Mayor’s Office Press Release

Mayor Turner joins Houston’s Fund for Social Justice and Financial Justice, Wells Fargo Launches OPEN FOR BUSINESS Grant Portal

$ 20 million has been allocated to various SMEs and nonprofits in the Houston area. The application was accepted between August 9th and 23rd, 2022.

July 28, 2022- Mayor Sylvester Turner joined Wells Fargo on Tuesday, July 26, to join the Houston Social Justice and Economic Equity Fund, a diverse group of small businesses and non-interest groups in the Houston region.

Open for business press conference graphics

Starting Tuesday, August 9, employers will have the opportunity to apply for grants ranging from $ 10,000 to $ 65,000.

“Opening this portal is an incredible step towards the progress that began when we established the Fund for Houston Social Justice and Economic Equity in May 2021. We are Houston’s Colored and It provides access to the funds needed by non-profit small businesses. Mayor Sylvester Turner, Honorary Chairman, said: “Thanks to corporate partnerships like Wells Fargo, we. Has come a long way in a short period of time and is now funding the fundamental changes in the Houston community. “

The Houston Fund for Social Justice and Economic Equity distributes funds in the form of grants over a three-year period to promote the economic development of poorly serviced communities towards the purchase of property, equipment and other tangible property. To support. The funding is estimated to reach more than 500 SMEs in Houston and is intended to help businesses and nonprofits expand and expand their capabilities in new ways.

Thomas Jones, President of the Houston Social Justice and Economic Equity Fund, said: “The results of this partnership bring hope to the community and have a positive impact on the trajectory of its business.”

To qualify, the applicant’s business or 501c3 nonprofit is located in the Houston area, consists of less than 50 employees, is led by colored races, and has been established by 31 December 2021. is needed. All applications must be submitted. The CST from 9 am on Tuesday, August 9th to 11:59 pm on Tuesday, August 23rd will take place via an electronic portal link that can be found by visiting www.houstonequityfund.com.

The $ 20 million grant, first announced in February, is about 420 million, focusing on racially and ethnically diverse small business owners affected by the pandemic. It comes from Wells Fargo’s Open for Business Fund, a nationwide SME reconstruction effort for the dollar. The fund was created from the total processing fees Wells Fargo received from a 2020 Paycheck Protection Program loan. Wells Fargo has donated funds to community development financial institutions (CDFIs) nationwide and local nonprofits.

About the Houston Fund for Social Justice and Economic Justice
The Houston Social Justice and Economic Equity Fund (Houston Equity Fund) transforms by investing in resource organizations and initiatives that empower and uplift the color community. The Houston Equitable Fund is committed to taking action to facilitate equitable system changes while maintaining transparency and fidelity. The Fund is committed to implementing a framework for reporting and evaluation that reflects the common goals of the Houston Equity Fund and its supporters. This is a permanent change that makes sense for the stranded color community. An important aspect of achieving change is to select and fund organizations in four key areas: social and racial justice, youth empowerment and education, community building and economic development. Is to adopt a rigorous process.

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