Wells Fargo is providing $11.2 million to help 12 Community Development Financial Institutions (CDFIs) better serve diverse-owned small businesses.

The CDFIs were selected for round two of the six-round Wells Fargo Works for Small Business: Diverse Community Capital (DCC) program. The three-year DCC program will provide a total of $75 million in lending and grant capital to CDFIs that support diverse-owned small businesses. These CDFIs are private, nonprofit financial institutions that assist underserved populations. Since the program launched in November of 2015, more than $38 million has been distributed to 30 CDFIs.

The 12 organizations selected for round two were chosen from among 98 applicants. Wells Fargo will distribute a total of $8.17 million in lending capital and $3.075 million in grants to the selected CDFIs. They will use the DCC loan funds to lend to small business owners who may not qualify for traditional financing, while using the grant funds to expand outreach to diverse small business owners, upgrade technology, enhance products and increase technical assistance and coaching to borrowers.

The round two DCC recipients are:

• Accion – Albuquerque, NM
• California FarmLink – Santa Cruz, CA
• Community First Fund – Lancaster, PA
• Four Bands Community Fund – Eagle Butte, SD
• Fresno CDFI – Fresno, CA
• Justine PETERSEN – St. Louis
• Northwest Native Development Fund – Nespelem, WA
• PIDC Regional Development Corporation – Philadelphia
• Self-Help Ventures Fund – Durham, NC
• Tampa Bay Black Business Investment Fund – Tampa, FL
• VEDC – Van Nuys, CA
• WomenVenture – Minneapolis

Wells Fargo is accepting interest forms for round three of the DCC program through December 1.