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Multi-Cultural Chambers of Commerce, Wells Fargo Bank, Coach Oakland Business Owners on Getting Access to Capital
Representatives from the following Chambers were in attendance: Oakland African American Chamber of Commerce, Oakland Latino Chamber of Commerce, Oakland Metropolitan Chamber of Commerce, Oakland Chinatown Chamber of Commerce and Oakland Vietnamese Chamber of Commerce.
By Post Staff
The Multi-Cultural Chambers of Commerce collaborated with Wells Fargo bank to give business owners information and access to capital at an event was held Nov.18 at Higher Ground Community Center, 2010 Mandela Parkway, Oakland, California.
Banking professionals and representatives from Community Development Financial Institutions shared their knowledge en masse in the morning, then, following lunchbreak speakers, were available for one-on-one networking.
“We are excited to have hosted an informative workshop with representatives from Working Solutions and KIVA,” said Cathy Adams, president of the Oakland African American Chamber of Commerce. “Our businesses have suffered in so many ways during this pandemic and we need to take advantage of each opportunity to access capital for our businesses to increase revenue sales.
“I am equally proud to have Wells Fargo as a partner with the Multi-Cultural Chambers of Commerce to unite our efforts to support our businesses in Oakland. The grant in the amount of $100,000 will assist each Chamber to do similar workshops starting January 2022,” Adams said.
Representatives from the following Chambers were in attendance: Oakland African American Chamber of Commerce, Oakland Latino Chamber of Commerce, Oakland Metropolitan Chamber of Commerce, Oakland Chinatown Chamber of Commerce and Oakland Vietnamese Chamber of Commerce.
Wells Fargo Bank provided business owners the opportunity to learn what banks look for when they review loan applications. Wells Fargo Team Member Network discussed how they provide support for local business owners.
“Wells Fargo is proud to team up with the Multi-Cultural Chambers to create a three-phase coaching platform that can demystify access to capital,” said Chuck Baker, vice president of social impact and sustainability for Wells Fargo. “The first phase is the kickoff event that helps businesses understand how to access capital at a broad level — from crowdfunding via Kiva, to low-interest loans with Working Solutions Microloans, to up to $200 million through Wells Fargo.”
The next phase will be the culturally relevant workshops that will be conducted by each chamber in early 2022. The third phase will be one-on-one coaching that will occur directly with businesses, including in-language tools and direct technical assistance for their members
The Oakland African American Chamber of Commerce OAACC was established in 2003. It is a private non-profit organization whose mission is to advance economic opportunity and strengthen Oakland’s Black business community. We provide a number of services for our business associates and members including access to workshops, business development opportunities and advocacy.
