In 2006, Wells Fargo supported aﬀordable housing and economic development projects throughout Minnesota with more than $36 million in loans and $21 million in investments.
L.: Steve Cramer executive director of PPLR.: Debra Paterson, regional president for Wells Fargo, Metro Minnesota
2Wells Fargo is a longtime supporter of Project for Pride in Living (PPL)’s mission to assist low-income individuals and families to work toward self-sufﬁciency by providing housing, jobs and training. Every year, new aspects of this exceptionally strong partnership grow and develop, from capital gifts to major investments to team member volunteer involvement to sponsorship of fundraising events. “They’re a fabulous organization that helps thousands of people every year,” said Debra Paterson, regional presi-dent for Wells Fargo Metro Minnesota and member of the PPL board. The Wells Fargo Foundation made a major contribution to PPL’s 2006 capital campaign in addition to the annual support PPL receives to pilot new programs every year. “PPL is always working to ﬁnd new ways to help the people they serve, and we help them test new strategies and initiatives,” said Carolyn Roby of the Wells Fargo Foundation. In 2006, Wells Fargo’s Community Development & Specialized Lending team also worked with PPL to develop an EQ2 loan with equity equivalent to a $1 million line of credit to support PPL’s large con-struction projects. “Having the patient, long-term capital of the EQ2 makes it possible for us to spread our wings,” said Steve Cramer, executive director of PPL. Additionally, Pat Gleason, home mortgage consultant, works with PPL on the ﬁnancing for their affordable condominium projects. The business banking team also assists PPL in efﬁciently managing their cash to ensure ﬁnancial success.
A multifaceted relationship that serves more Minnesotans every year.
Clockwise from upper left: Dan Smith, assistant vice president, Community Development LendingDarin Zielsdorf, vice president and manager, Business BankingPat Gleason, home mortgage consultant