American Veterans Group in collaboration with Wells Fargo Foundation provides funding to support development of veteran transitional housing in North Minneapolis

MELVILLE, N.Y., July 26, 2022 /PRNewswire/ -- American Veterans Group (AVG), a social impact investment bank and Wall Street's first and only public benefit corporation, through a collaboration with the Wells Fargo Foundation has provided funding to the Minnesota Assistance Council for Veterans (MACV), allowing them to move forward with the purchase of four lots for the development of a veteran transitional housing project in North Minneapolis.

AVG's and Wells Fargo's combined donations will enable MACV to purchase the properties and begin developing homes to provide permanent or transitional housing for veterans. Each property will accommodate a single family or up to five single veterans. The donation was made possible by AVG's on-going investment banking relationship with Wells Fargo. AVG has served as the co-manager for several Wells Fargo transactions over the past year.

"We appreciate the commitment the Minnesota Assistance Council for Veterans has made to support the many veterans throughout Minnesota who rely on their services," said Ben Biles, co-founder and chief executive officer of AVG. "Joining forces with Wells Fargo to help MACV further their great work is an example of how AVG is committed to making a difference for veterans in the communities where we and our clients do business."

"Our programs address the variable factors negatively impacting veterans' stability by providing supportive housing, case management, and other services to empower veterans who may believe they have nowhere left to turn," said Neal Loidolt, president and CEO, Minnesota Assistance Council for Veterans. "More than eighty-five percent of our annual budget directly funds programming, ensuring that the generosity of AVG and Wells Fargo will have the maximum impact on veterans in need."

"Since 2015, the Wells Fargo Foundation has provided more than $36 million in grants to support sustainable housing and homeownership for veterans through a suite of several programs," said Sean Passmore, head of enterprise military and veteran initiatives for Wells Fargo. "Having a safe and affordable place to call home is an essential pathway for wellness, dignity, and economic opportunity. We are thankful that AVG can join with us to provide the necessary funds enabling MACV to move forward with this housing project."

American Veterans Group is a rapidly growing social-impact investment banking firm that dedicates 25% of its earnings to support veterans causes. The firm directs its philanthropic giving to communities where it and its clients do business. Including the donation to MACV, AVG, since its inception, has donated more than $465,000 to 33 veteran non-profit organizations. The donations have directly supported transitioning veterans in 38 communities across the U.S. 

American Veterans Group, PBC, is a military veteran-owned, social impact-focused broker dealer that delivers value to institutional clients while providing meaningful philanthropic support to the military veteran community. The company reinvests 25% of its earnings in national and local military veteran non-profit organizations that provide worthy services and support to one of America's most vulnerable, at-risk populations. As Wall Street's only public benefit corporation, American Veterans Group empowers institutional clients to partner in its social mission while enabling them to remain focused on key business objectives and goals. To learn more about American Veterans Group, visit their website at www.americanvetsgroup.com.

Minnesota Assistance Council for Veterans (MACV) is a veteran-focused nonprofit organization providing services and support to end Veteran homelessness in Minnesota. We envision a future where every veteran and their family has access to sustainable housing. We understand the reasons for veteran homelessness and how these factors impact the people we serve. As Minnesota's largest nonprofit focused on ending veteran homelessness, our services and programs empower veterans by equipping them with the resources, know-how, and tools to create new opportunities. Our goal is to create a community of support through open collaboration and connections in communities across our great state.

Media Contacts:

For American Veterans Group
Mark Kroeger
The Boldsquare Group
(513) 236-3109
[email protected]
www.boldsquare.com

SOURCE American Veterans Group