Wells Fargo expands small business loan program

Money

DENVER (KDVR) — Wells Fargo bank will expand its participation in the Paycheck Protection Program (PPP).

In a statement issued on Wednesday, the bank said it will “…offer loans to a broader set of its small business and nonprofit customers.”  

Wells Fargo received more than 170,000 applications within the first 48 hours of participating in the program.

Chris Anderson-Tarver, manager of the Denver Distillery located at 244 S. Broadway, said assistance can’t come soon enough for small business owners.  

“Having the bar sales axed right off the bat was a huge hit for us,” he said.

The distillery is selling basics and specialties and making hand sanitizer for first responders with 500 gallons of beer donated from a national beer tasting competition that was called off.

Right now, anyone who buys a product from the distillery gets  a free bottle of hand sanitizer.

For more information about the PPP, visit the Small Business Administration’s website

To start the process for PPP with Wells Fargo, customers must meet the overall Small Business Administration program requirements, have a Wells Fargo Business checking account as of Feb. 15, 2020, and be enrolled in business online banking. 

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