Daily News: May 10, 2013

Wells Fargo Adds Bankers, Launches New Credit Products

To help meet the financial needs of more small business owners, Wells Fargo said it is hiring more bankers to serve small businesses through its banking stores and has introduced two new secured credit products for business owners.

Wells Fargo is offering two new credit products that provide more solutions for small business owners: Wells Fargo Secured BusinessLine line of credit and Wells Fargo Business Secured Credit Card. The products were designed to meet the needs of new and established businesses, including businesses that may not qualify for unsecured credit, have no credit history, are trying to re-establish their business credit, or are seeking financing to supplement cash flow while preserving savings.

“We want to do everything possible to meet the financing needs of businesses we serve, which includes providing a comprehensive array of financial products for small businesses,” said Marc Bernstein, head of Small Business for Wells Fargo. “Our new secured products are good credit and payment options for businesses that are building or rebuilding credit, as well as those that are conservatively managing debt as economic conditions improve.”

To read the Wells Fargo news release clickhere.