Wells Fargo (WFC) Targeting Distributution of $10 Billion to Small Businesses

Wells Fargo & Company (WFC) announced that it is targeting to distribute $10 billion worth of loans to small business customers under the requirements of the Paycheck Protection Program. They declared it will focus on serving two segments of its customer population: nonprofits and small businesses with fewer than 50 employees. The company has received forms from customers expressing interest in the program and expects it will fill the company's capacity to lend under it.