Open for Business Fund: Technical Assistance Program

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Program overview

Through the Open for Business (OFB) Fund, Wells Fargo will donate gross processing fees generated from the Paycheck Protection Program (PPP) to support nonprofits with strategies focused on supporting small businesses, especially those led and owned by Black, African American, Latino, Asian American, American Indian, and Alaska Native people, acknowledging that these businesses have been most adversely impacted by structural inequities and the current COVID-19 crisis. Applications from nonprofits serving all segments of diversity, including women-owned, persons with disabilities, LGBTQ, veterans, and small business owners of other diverse backgrounds, will also be considered.

For the Technical Assistance Program of the OFB Fund, we anticipate awarding approximately $50 million in grants to nonprofits that provide small business technical assistance programs and services. With our goal to scale impact and reach, grants generally ranging from $250,000 up to $1,500,000 will be awarded. The size of grants will depend on the nonprofit’s capacity to manage and disburse the grant funds in a timely manner, geographic scope, and alignment with the program selection criteria as provided below. To determine the grant request amount for this program, please use the following guidance:

  • The minimum operating budget of the applicant must be $500,000 (for FY2019).

  • Larger grant sizes will generally be awarded to larger or national nonprofits with compelling sub-granting

    strategies to support smaller nonprofits or local affiliates that would benefit from smaller grant amounts.

  • Small and mid-sized nonprofits that are not part of a national or regional network may form their own

    collaborative with one of the nonprofits serving as the main applicant. The combined operating budgets of the organizations in the collaborative will be used as the operating budget for the request.

    We are seeking strategies from nonprofits able to deploy an award quickly, the majority within the first 12 months, however we expect to monitor outcomes and impact for three years.

    Program definitions

    Small Businesses: Businesses, including nonprofits and sole proprietorships, under 500 employees. There is no restriction on the type of small businesses (e.g. microbusinesses, start-ups, high-growth small businesses, etc.) that will be served by the applicant, but its ability to maximize the number of small businesses it serves and ability to show measurable impact will be taken into consideration.

    Technical assistance: Programs and services that ensure small business viability through growth, expansion, innovation, increased productivity and management improvement,1 especially as it relates to making informed business decisions to navigate the economic effects of COVID-19. Please see “Use of Funds” section for examples of the types of technical assistance that may be funded through this program.

    Program eligibility requirements

    Organizations must meet these program eligibility requirements:

    • Have a tax-exempt status as a 501(c)(3) public charity as defined under the Internal Revenue Code.

    • Be located in and serving the U.S., including the territories of Puerto Rico and the U.S. Virgin Islands.

    • Nonprofits that applied to the Community Development Financial Institutions Program of the OFB Fund

      may apply to the Technical Assistance Program regardless of whether the nonprofit received a grant. If you have any questions about your organization’s eligibility, send an email to:

      smallbusinessphilanthropy@wellsfargo.com

      Selection criteria

      Nonprofit organizations meeting the eligibility criteria will be evaluated using the following selection criteria:

    A. Compelling technical assistance strategies that support diverse small businesses, especially those led and owned

    by Black, African American, Latino, Asian American, American Indian, and Alaska Native people, acknowledging that these businesses have been most adversely impacted by structural inequities of the COVID-19 crisis, will receive priority.

    o Please include a detailed list of technical assistance and services you will provide for this award, including any culturally competent services or materials.

    o Applications from nonprofits serving all segments of diversity, including women-owned, persons with disabilities, LGBTQ, veterans, and small business owners of other backgrounds, will be considered.o Strategies should include specific and credible projected outcomes that increase the viability of these

    small businesses.
    B. Innovative and actionable strategy to deliver and/or expand technical assistance outreach to diverse small

    businesses, especially those led and owned by Black, African American, Latino, Asian American, American Indian, and Alaska Native people.

    o Include a description of the market(s), including the geographic scope (city, county, state, and region) and the segment(s) and business sectors/industries you intend to serve with any awarded funds for grantee and subgrantee, if applicable.

    C. At least one-year history of demonstrated commitment to serve diverse small businesses, especially those led and owned by Black, African American, Latino, Asian American, American Indian, and Alaska Native people.

    o This may include materials such as culturally competent curricula, publications that share program outcomes, annual reports, and communication resources (such as the ability to assist in various languages, as needed).

    o Include description of demographics of small business owners and leaders, sectors/industries or specialized expertise, and the geographic area that will be served.

    D. Organizational capacity and readiness to deploy, and activate your strategy quickly to help small businesses adjust, recover, and thrive in the new economic normal.

    o A description of any collaborative relationships that your organization has established or intends to establish to support the strategy, especially in instances where it will increase an organization’s capacity to expeditiously reach targeted populations on a larger scale.

    o Applicants may include information such as current technical assistance offerings, current staffing, organizational governance and/or leadership structure, partnerships and networks, technology systems, and any other preparations.

    1. If subgranting, applicants must include a clear description of the overarching strategy as described in sections A- C that subgrantees will implement to achieve the goals of the Technical Assistance Program. Subgrant award decisions and sizes will be at the grantee’s discretion.

    2. For small and mid-sized nonprofits that form collaboratives, each participating organization must provide statements that correspond to sections A-E.

Use of funds

Possible uses of grant funds by eligible nonprofit organizations include:

  • Customized coaching and counseling such as: business planning, implementing state and/or local public

    health requirements, crisis management, contingency planning, financial planning or management, business model adjustment, marketing/advertising, succession planning, exit strategy planning, and navigating local, state, and/or federal resources, forms, and applications, etc.

  • Program support to make referrals to services if not available in-house: legal assistance, leasing/licensing/permitting assistance, construction/renovation needs, inventory/equipment/supplies, technology needs, accessing cash grants, capital or other small business funding programs, etc.

  • Modernizing technology to optimize virtual and accessible support to small businesses.

  • General operating support, inclusive of costs related to administering subgrants, will be capped at 20% of

    total grant request.

  • Marketing, communications, and business outreach strategies to reach diverse small businesses, especially

    those led and owned by Black, African American, Latino, Asian American, American Indian, and Alaska Native

    people.

  • Developing or expanding networks with other technical assistance providers to share best practices and

    collaborate to scale effective services and programs for small businesses.

    Application process

    Nonprofit organizations will submit an application at www.cybergrants.com/wellsfargo/OFB. Please use the code OFBta.

    • Application period opens: September 28, 2020 (6:00 am Pacific Time)

    • Applications due: October 23, 2020 (11:59 pm Pacific Time)

      The application will solicit responses to the following:

      • Proposal that includes information for sections A-E detailed in the “Selection Criteria.”

      • A description of your organization’s capacity to implement the strategy, including current staffing

        structure and board members.

      • A timeline including future projected activities or milestones and metrics – type of technical assistance,

        services, outreach activities, etc. – that will help you meet your goals.

      • A detailed project budget.

o Collaboratives must include project budgets for all participating organizations.

  • A list of other funding sources for the program or organization.

  • Most recent organizational operating budget, two years of audited financial reports, and most recent Form

    990.

o These are only required for the main applicant of collaboratives.

Evaluation and reporting

The program evaluation will measure the nonprofit organization’s use of funds to help small businesses recover and thrive. Reporting will include metrics (broken down by ethnicity, gender, and geography when possible) such as, but not limited to:

  • # of small businesses receiving technical assistance, including what type of technical assistance was provided

  • # of small businesses who were assisted in navigating federal, state and local programs like PPP and local small business funds

  • Sectors/industries supported through the technical assistance

  • # of small businesses preserved or created

  • # of jobs preserved or created

  • Impact of the award on the organization’s operating capacity

    Qualitative data, such as stories or narratives from the small businesses served by your organization through this award

    Awardees will need to respond to reporting prompts six months after receiving an award and annually for three years. Reporting will be completed using Wells Fargo’s CyberGrants platform.

    Dates may be subject to change. Submitting an application for this opportunity is voluntary and will not affect consideration of other future grant opportunities with Wells Fargo. Wells Fargo reserves the right to change or modify program guidelines, grant funding, payment timing and forms without prior written consent or notice. By submitting an application, the nonprofit organization agrees that information provided, including any attached documents, may be reviewed internally by Wells Fargo and by external third parties.

    Additional focus areas

    Open for Business Fund CDFI Program launched on July 9, 2020 and closed on August 7, 2020. The Recovery & Resiliency Program will tentatively launch in Q1 2021.

    Questions

    If you have questions, please contact smallbusinessphilanthropy@wellsfargo.com

Matthew Swinnerton