Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), today launched its Channel Finance Division, which will provide innovative, worldwide channel financing solutions to resellers, distributors, and vendors in the technology industry.
John Schmidt, Senior Managing Director, Channel Finance Division (Photo: Business Wire)
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 FinanceWells 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) 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=50177294&lang=en