Wells Fargo Foundation Provides $1 Million Grant to Ascendus to Expand Capital Access for Broward County Entrepreneurs

The Wells Fargo Foundation recently announced a $1 million philanthropic investment in Ascendus to launch BRIDGE Broward — Broward Resources for Inclusive Development & Growth for Entrepreneurs — a program designed to close the access-to-capital gap that has long held back small business owners in Broward County.

The initiative will deploy $900,000 in loans to an estimated 36 entrepreneurs across the county, pair every borrower with personalized financial coaching, and create or retain an estimated 160 local jobs over the grant period. Loans will be delivered by Ascendus, the nonprofit Community Development Financial Institution (CDFI) lender, and supported by three Broward-based community partners — Prospera, Hispanic Unity of Florida, and Urban League Central County Community Development Corporation — who will provide tailored technical assistance to participants.

For many Broward small business owners traditional bank financing remains out of reach. BRIDGE Broward was built to change that.