The Otto Bremer Foundation invested $ 500,000 in Wisconsin Women’s Business Initiative CorporationWWBIC recently announced.
According to the press release, the investment includes a $ 400,000 investment in the program that will be lent to various and low-income small business owners.
The $ 100,000 grant will also provide one-to-one business technical advice and access to business education, networks, volunteers and other resources for those who receive loans as part of the investments associated with the program.
“We are delighted with the investment the Otto Bremer Trust has made in WWBIC and our commitment to helping entrepreneurs and small business owners in communities of color across the state,” said WWBIC President and CEO Wendy Baumann. “These loans will affect the creation, strengthening and expansion of enterprises, as well as the creation and retention of jobs.”
IN Otto Bremer Trust (OBT) is a bank holding company and private charitable foundation located in St. Paul, Minnesota. MBT is the majority owner Bremer Financial Corporation, a regional financial company.
Since 1987, WWBIC has provided over $ 82 million in loans to micro and small businesses, and the current loan portfolio is $ 23.5 million and has more than 564 active borrowers.