SANTA MONICA, Calif.–(BUSINESS WIRE)–
Wells Fargo Capital Finance, part of Wells Fargo Company (NYSE: WFC – News),
today launched its Channel Finance Division, which will provide
innovative, worldwide channel financing solutions to resellers,
distributors, and vendors in the technology industry.
Through the channel financing programs, resellers, distributors and
vendors in the technology industry will have access to customized
working capital and extended terms financing solutions to increase sales
and grow their businesses. Based in Englewood, Colo., John Schmidt and
Mike Gallagher, former managing partners at Castle Pines Capital LLC
(CPC), which was acquired by Wells Fargo in 2011, will lead the Channel
Finance division of Wells Fargo Capital Finance.
“Because the management team at CPC developed a strong relationship with
Wells Fargo Capital Finance over several years, the integration of our
businesses has resulted in an even stronger channel finance product
offering,” said John Schmidt, senior managing director of the Channel
Finance Division of Wells Fargo Capital Finance. “With a highly
automated and fully integrated servicing platform, we have the
technology, tools, and experience to drive efficiencies in the supply
chain. By combining our entrepreneurial excellence and successful
business model with Wells Fargo’s strength, stability, and comprehensive
set of products and services, we’re well-positioned to help technology
companies succeed.”
About Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based
lending, accounts receivable and purchase order finance services of
Wells Fargo Company and its subsidiaries, and provides traditional
asset-based lending, specialized senior secured financing, accounts
receivable financing, purchase order financing and channel financing to
companies across the United States and internationally. Dedicated teams
within Wells Fargo Capital Finance provide financing solutions for
companies in specific industries such as retail, software publishing and
high-technology, commercial finance, staffing, government contracting
and others. For more information, visit www.wellsfargocapitalfinance.com.
About Wells Fargo
Wells Fargo Company (NYSE: WFC – News) is a nationwide, diversified,
community-based financial services company with $1.3 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial
finance through more than 9,000 stores, 12,000 ATMs, the Internet
(wellsfargo.com and wachovia.com), and other distribution channels
across North America and internationally. With more than 270,000 team
members, Wells Fargo serves one in three households in America. Wells
Fargo Company was ranked No. 23 on Fortune’s 2011 rankings
of America’s largest corporations. Wells Fargo’s vision is to satisfy
all our customers’ financial needs and help them succeed financially.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50177294lang=en
MULTIMEDIA AVAILABLE:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50177294lang=en
Wells Fargo Company
Media
Lindsay Adrian, 310-453-8232