WASHINGTON, May 20, 2020 /PRNewswire/ -- Wells Fargo & Company and the National LGBT
Chamber of Commerce (NGLCC), the business voice of the LGBT
community, are proud to announce an unprecedented program for LGBT
entrepreneurs: The NGLCC XLR8 Program.
The XLR8 Program is designed to help LGBT-owned businesses grow
and succeed in a highly competitive market. XLR8 will consist of a
series of by-application cohorts of NGLCC Certified LGBT Business
Enterprise® (Certified LGBTBE®) companies distinguished by
revenue.
"Wells Fargo is a proud and steadfast supporter of the
incredible work NGLCC does each and every day to help advance
LGBT-owned businesses throughout the country," stated
Regina Heyward, senior vice
president and Head of Supplier Diversity for Wells Fargo.
"In today's times of uncertainty and disruption, it is imperative
that we all come together to ensure that diverse businesses
continue to have access to meaningful support, resources and
opportunities. Our collaboration with NGLCC on the launch of
the XLR8 program is a demonstration of Wells Fargo's strategic
commitment to developing strong, sustainable LGBT-owned businesses
that can help corporations create and capture value."
XLR8 will focus on businesses ranging from $100,000 to $750
million in annual revenues and will help them create
sustainable and meaningful growth for their companies. Start-up
companies and those with less than $100,000 in annual revenues that have high growth
potential will also be considered. Businesses identified through
the NGLCC's Trans Inclusion Task Force and Communities of Color
Initiative will be identified and included in each cohort.
"During these unprecedented and trying times, we believe the
NGLCC XLR8 Program is the kind of innovation that the 1.4 million
LGBT business owners -- and the $1.7
trillion they add to the US economy each year -- expect and
need to weather COVID-19. We are proud to collaborate with one of
our longest-standing, most trusted partners in LGBT economic
opportunity, Wells Fargo, to ensure every LGBT entrepreneur has
every resource they need to scale and thrive in this difficult
marketplace," said NGLCC Co-Founder & President Justin Nelson.
Key areas of NGLCC XLR8's focus include: Economic and business
recovery from the COVID-19 pandemic, management and leadership
innovation, access to capital and financial literacy, pre- and
post-event mentorship, team development, digital transformation, as
well as marketing, communications and branding.
This comprehensive initiative will expand many of NGLCC's
award-winning programs to fund, train, and elevate LGBT-owned
businesses by utilizing the extensive resources of one of NGLCC's
Founding Corporate Partners, Wells Fargo. NGLCC and Wells Fargo are
thrilled to bring together the first virtual cohort of XLR8
companies in the first week of June
2020.
"Pride month is the perfect time to launch this important
initiative and be forward-looking for what lies ahead for our
businesses as we work to recover and ensure this vital part of our
American small business engine is poised for success," said
Nelson.
To help ensure growth and skills development as a part of this
program, XLR8 will:
- Provide three executive management education programs
throughout the remainder of 2020. For this program NGLCC will team
with academic institutions, private sector companies, and subject
matter experts who can work with these owners on a project of
importance to their company that will result in tangible and
measurable outcomes related to the education received through the
XLR8 program
- In year one, two (2) programs will be held virtually in June
and August 2020. NGLCC also plans to
host (1) in-person program at the NGLCC headquarters in
Washington, DC in November 2020
- NGLCC seeks to ensure intersectional Certified LGBTBE®
companies are represented in all of cohorts
This program is the latest in a series of recent NGLCC
programming innovations designed to create a nationwide ecosystem
of opportunity and resource sharing for LGBT entrepreneurs. These
programs include: The NGLCC Engagement Center; The Chamber
Leadership Development Program; NGLCC LGBT Biz Pitch Competition;
and interactive webinar / digital matchmaking experiences.
Learn more and apply at nglcc.org/XLR8
NGLCC Media Contact:
Joanthan
Lovitz
Senior Vice President, NGLCC
Press@nglcc.org | 202.234.9181
About the National LGBT Chamber of Commerce:
The
National LGBT Chamber of Commerce (NGLCC) is the business voice of
the LGBT community and is the largest global advocacy organization
specifically dedicated to expanding economic opportunities and
advancements for LGBT people. NGLCC is the exclusive certification
body for LGBT-owned businesses, known as LGBT Business Enterprise®
(Certified LGBTBE®) companies. www.nglcc.org
About Wells Fargo
Wells Fargo & Company (NYSE:
WFC) is a diversified, community-based financial services company
with $1.98 trillion in assets. Wells
Fargo's vision is to satisfy our
customers' financial needs and help them succeed financially.
Founded in 1852 and headquartered in San
Francisco, Wells Fargo provides banking, investment and
mortgage products and services, as well as consumer and commercial
finance, through 7,400 locations, more than 13,000 ATMs, the
internet (wellsfargo.com) and mobile banking, and has offices in 31
countries and territories to support customers who conduct business
in the global economy. With approximately 263,000 team members,
Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on
Fortune's 2019 rankings of America's largest corporations. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
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SOURCE National LGBT Chamber of Commerce