Wells Fargo and TMC Community Capital Launch Community 5K Series and Forgivable Loan Program Ahead of the World Stage
Los Angeles, CA – Wells Fargo is investing a $700,000 grant into TMC Community Capital as part of a new initiative aimed at expanding access to capital for California small businesses and positioning local entrepreneurs to benefit from major economic opportunities ahead.
The philanthropic investment will support small business growth programs, expand community lending efforts, and help launch a new forgivable loan initiative focused on preparing entrepreneurs for the surge in commerce expected around the upcoming World Cup. The new initiative reflects a growing realization that economic booms should not just benefit the biggest players. With community-based capital models in place, local businesses can claim their seat at the table too.
The “World Stage Ready” Forgivable Loan Program is built to help small business owners position themselves for the wave of economic activity expected around upcoming global events in California. The initiative will provide capital for operational needs like staffing, inventory, compliance upgrades, and event preparation. This support will help neighborhood businesses take part in the tourism, foot traffic, and local spending these moments generate. The initiative aims to ensure that neighborhood businesses are not left behind during moments of large-scale economic growth.
“Expanding access to capital is essential to helping small businesses grow and sustain local economies,” said Gregg Sherkin, senior vice president of Philanthropy and Community Impact at Wells Fargo. “We’re proud to collaborate with TMC Community Capital to support innovative, community-based lending programs that help entrepreneurs access the resources they need to participate in major economic events coming to California.”
To launch the partnership, TMC Community Capital and Wells Fargo will introduce Run Your Business, a new series of community-centered 5K events taking place in Los Angeles and San Jose. The initiative turns a community 5K into something bigger, bringing together movement, local businesses, music, food, and real conversations about money, opportunity, and what it takes to build something sustainable in today’s economy.
“Financial fitness is the connection between personal wellness and financial stability. When business owners have consistent access to capital, resources, and support, it creates long-term opportunity for entrepreneurs and working families alike,” said Daniel Fernandez, CEO of TMC Community Capital
Run Your Business creates space for entrepreneurs, local residents, and community leaders to connect around the realities of running a business, from accessing capital and navigating growth to building long-term stability in their communities. Wells Fargo representatives will be on-site to support the event and share information about small business resources, while TMC Community Capital will speak directly with attendees about the upcoming World Stage Ready Forgivable Loan Program and how local businesses can prepare now to take advantage of the economic momentum heading toward California.
About TMC Community Capital:
TMC Community Capital is a nonprofit fintech CDFI reimagining access to capital for under-resourced entrepreneurs across California. By combining community-based underwriting, technology, and a best-in-class borrower experience, TMC delivers fast, below market rate financing that helps small business owners build credit, grow stronger businesses, and create lasting impact in their communities.
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Omar Serrano
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650-771-1852