We are excited to announce a new lease financing facility to help better serve the small business community! Read the details below:
Direct Capital Corporation announced today that it has closed a new three-year $50 million equipment lease-backed bank facility with the Lender Finance division of Wells Fargo Foothill, part of Wells Fargo & Company (NYSE:WFC).
This is the second financing program closed in the last six months by Direct Capital, a leading nationwide provider of financial services, including commercial equipment financing and business loans. These two programs followed a January announcement of the extension of an existing $100 million facility.
“Wells Fargo Foothill is a knowledgeable and experienced financial partner,” said Christopher Broom, Chairman of Direct Capital. “We are pleased to welcome them to Direct Capital.”
With the addition of the Wells Fargo Foothill facility, Direct Capital has significantly strengthened its ability to help businesses nationwide access capital. “There continues to be a major void out there for companies that are seeking to access capital,” said Paul Ringuette, Direct Capital’s Vice President of Sales . “We are attacking this issue every day by reaching out to companies and letting them know we are here for them. With this added funding capacity, this message will only become louder.”
“We are pleased to have completed this financing for Direct Capital Corporation, an industry leader in small ticket equipment leasing,” said Andrea Petro, Executive Vice President and Division Manager of Wells Fargo Foothill Lender Finance. “We look forward to supporting the company’s senior management team in its plans for ongoing success.”
For more information about Direct Capital, call 800-999-9942 or visit www.directcapital.com.