Daily News: February 22, 2012

Wells Fargo Capital Finance Launches Channel Finance Division

Wells Fargo Capital Finance said it has launched its Channel Finance division, which will provide innovative, worldwide channel financing solutions to resellers, distributors, and vendors in the technology industry.

Based in Englewood, CO, John Schmidt and Mike Gallagher, former managing partners at Castle Pines Capital (CPC), which was acquired by Wells Fargo in 2011, will lead the Channel Finance division of Wells Fargo Capital Finance.

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.

“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.”