NORFOLK, Va., June 9, 2026 /PRNewswire/ — Urban Strategies Inc. (USI) is advancing efforts to expand economic mobility, entrepreneurship, and community wealth building through a new initiative supported by a $1.2 million grant from Wells Fargo.
Through the Wells Fargo grant, USI will expand access to critical Community Development Financial Institution (CDFI) resources, provide seed funding for local businesses, and enhance implementation of USI’s Economic Wellness Assessment—a data-driven tool designed to identify barriers, strengthen financial capability, and increase economic stability for low- to moderate-income individuals and families. These investments will directly support local individuals and families in Norfolk, VA; Baltimore, MD; Sacramento, CA; and St. Louis, MO.
As part of this transformative effort, USI is proud to announce the launch of the Resident Start-Up Challenge, made possible through Wells Fargo grant funding. This groundbreaking initiative will empower residents and entrepreneurs to develop and scale innovative business ventures that generate economic opportunity and build wealth within their communities.
Entrepreneurs with emerging businesses are invited to submit applications focused on creating sustainable economic impact and reinvesting resources locally. Selected participants will receive up to $50,000 in capital through various mechanisms, along with business incubation services, technical assistance, mentorship, and comprehensive wraparound support to accelerate business growth and long-term success.
Together, USI and Wells Fargo are investing in community-driven solutions that strengthen local economies, expand access to opportunity, and help residents transform their entrepreneurial vision into lasting economic prosperity.
“Economic opportunity grows when communities have access to the resources and support needed to turn ideas into sustainable businesses,” said Kim Martin, Executive Director, Philanthropy and Community Impact at Wells Fargo. “By investing in solutions that are locally driven, we can help strengthen small businesses, build community wealth, and create more pathways to long-term financial stability.”
“USI believes in the unlimited power of people and the ripple impact that economic mobility has on children, families, and communities,” said Esther Shin, President and CEO, Urban Strategies, Inc. “Our dedicated and direct support to resident entrepreneurs and emerging businesses by way of the Resident Start-Up Challenge, doubles down on our belief that those closest to the problem are equipped with the solutions and we are certain these funds will ignite and fuel the spark necessary to reimagine what is needed and possible.”
The Resident Start-Up Challenge is designed to generate both individual wealth-building opportunities and broader community reinvestment. In each of the four cities:
- The competition will be open to residents receiving USI services
- A panel of local and national judges will evaluate business plans
- Eligible businesses may include home-based services, childcare, food service, construction trades, or other community-serving enterprises.
For information about the Resident Start-Up Challenge www.usi-inc.org
USI CDFI
Since 2018, USI’s Community Developed Financial Institution (CDFI) has raised and deployed nearly $12 million of financing affordable housing development and economic growth. These investments have contributed to the creation of 3,820 jobs and the preservation of nearly 2,315 units of housing nationwide. In addition, USI has supported more than 100 entrepreneurs through technical assistance and deployed nearly $1.4 million in capital to emerging businesses. Learn more at www.usi-cdfi.org
USI
Urban Strategies, Inc. (USI) is a national nonprofit with nearly five decades of experience sparking transformation in communities too often left behind. Founded in 1978 in St. Louis, Missouri, USI has grown into a trusted partner advancing people-centered, place-based solutions that bridge individual resilience with systemic change.
USI leads with care and conviction, designing, managing, and implementing bold strategies that dismantle poverty and expand access to opportunity. The organization is active in 63 communities across 19 states and two territories, partnering with more than 100,000 individuals and 30,000 families, and a network of more than 1,000 partner organizations. Learn more at www.usi-inc.org
View original content to download multimedia:https://www.prnewswire.com/news-releases/usi-with-support-from-wells-fargo-advances-economic-mobility-entrepreneurship-and-community-wealth-building-302795863.html
SOURCE Urban Strategies, Inc
