"In rural Minnesota and Wisconsin, small businesses are the lifeblood of the local economy providing jobs, supporting families, and contributing to the vitality of our communities.
Many of these value-added growth businesses face the risk of closure or being sold outside the region, taking with them the community benefits that small businesses provide."
That's what Shawn Wellnitz, president of the Entrepreneur Fund in rural Minnesota and Wisconsin, had to say in a press release announcing Wells Fargo's donation of $1 million to the fund to help small businesses in those two states stay in business.
The Minneapolis Star Tribune reports Wells Fargo's donation is the largest the fund has ever received, and Wellnitz says it's part of the bank's ongoing effort to support small businesses in rural areas.
"Ultimately, the future of our rural economies rest on the decisions made by today's business owners and policymakers," Wellnitz says in the press release.
"This strategy preserves the unique character of these communities and positions them for a stronger, more prosperous future."
Wellnitz says Wells Fargo's donation is part of a larger effort by the bank to support small businesses in rural areas.
The fund has already invested in 18 small businesses in the two states, and Wellnitz says the goal is to
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