$27M in Loans, 99% Repayment: JUST and Wells Fargo Lead the Way in Central Texas
JUST's partnership with Wells Fargo has fueled our ability to make a significant impact, especially in Central Texas. Since 2018, we’ve lent over $27M with a 99% repayment rate - $15 million of that has been in Austin’s eastern crescent, focusing on women entrepreneurs who are often overlooked by traditional financial institutions. Our trust-based model sets us apart—we never check credit scores, instead relying on relationships and trust to guide our lending decisions. We serve women deemed "credit invisible," those with non-existent or unscorable credit profiles, and provide them with the support and resources they need to embark on a journey toward financial independence.
The support from Wells Fargo started in 2020 through their Open for Business Fund, a roughly $420 million national small business recovery effort, that became a vital source of funding during the pandemic. A grant from this fund allowed us to sustain and grow the businesses of women entrepreneurs in our community when they needed it most. Wells Fargo’s investment continued as we expanded our JETA leadership program in Dallas, empowering local leaders with the tools and networks needed to grow their businesses and build community wealth.
Today, I own two businesses in different cities. What makes this especially meaningful is that these businesses allow me to care for my daughter with special needs while continuing to grow as an entrepreneur.
Mirna Rodriguez, an entrepreneur based in Austin, who benefited from the Wells Fargo Open for Business Fund dollars and has been a JETA leader since 2019, shared her inspiring journey: "I started with just a $750 loan, selling everything from perfumes to cookware—anything that could generate income. Through JUST's investment and support, I was able to save enough to open my first small establishment in a Flea Market. Today, I own two businesses in different cities. What makes this especially meaningful is that these businesses allow me to care for my daughter with special needs while continuing to grow as an entrepreneur. JUST has been a lifeline for my business, and as a JETA leader guiding four other women, I'm able to pass on the knowledge and opportunities I've received."
Ashley Phillips of JUST reflects on the partnership's impact: "Our collaboration with Wells Fargo has been instrumental in expanding our reach and deepening our support for women entrepreneurs."
Wells Fargo echoed these sentiments, highlighting their shared commitment to economic empowerment and community building. “Small businesses play an important role in the Texas economy,” said Christopher Rios, vice president of philanthropy and community impact at Wells Fargo. “As a company, we have a commitment to make the communities where we operate stronger. We are proud to see how this funding has been instrumental in helping small businesses keep their doors open and thrive during challenging times.”
JUST and Wells Fargo’s partnership demonstrates the power of collaboration in creating inclusive economic growth. By working together, we’re making strides in building a future where women entrepreneurs have the resources, skills, and support they need to lead, succeed, and transform their communities.
