Statement From Wells Fargo on the Paycheck Protection Program
April 16 2020 - 10:58AM
Business Wire
Wells Fargo & Company (NYSE: WFC) has issued the following
statement:
“We are doing everything we can to help our small business
customers navigate this difficult and uncertain time. Over the past
week we have mobilized hundreds of Wells Fargo employees and
launched new automation and technology so we can process the
extremely high volume of Paycheck Protection Program (PPP)
applications. Today the SBA announced that the $349 billion in
congressional funding for the PPP has been fully allocated to
thousands of participating lenders, of which Wells Fargo is one. We
will continue to prepare applications in our existing pipeline from
small and mid-size businesses and will submit them to the SBA when
funds become available. Given the magnitude of the crisis the
country is facing, we are hopeful that Congress will approve
additional funds for the PPP and we will continue accepting new
applications so we will be ready to proceed if and when that
happens. We stand ready to help the hundreds of thousands of
customers waiting for this much needed assistance during these
unprecedented times.”
For additional and up-to-date information on how Wells Fargo is
responding to the coronavirus click here.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.98 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investment and mortgage products and services, as well as consumer
and commercial finance, through 7,400 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 31 countries and territories to support customers who
conduct business in the global economy. With approximately 263,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 29 on
Fortune’s 2019 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com |
Twitter: @WellsFargo.
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version on businesswire.com: https://www.businesswire.com/news/home/20200416005608/en/
Media Catherine Pulley, 202-258-0706
catherine.pulley@wellsfargo.com
Manuel Venegas, 213-269-2723 manuel.venegas2@wellsfargo.com
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