Daily News: March 23, 2012

Wells Fargo Provides $5 Million to A/V Equipment Distributor

The Purchase Order Finance Group at Wells Fargo Capital Finance provided a $5 million facility to a California-based a distributor of audio and video broadcasting equipment.

After securing a large government contract from the Department of Defense, the company was in need of additional capital to support the purchase of product to fulfill the new contract. The Purchase Order Finance Group structured a new purchase order financing facility that works in tandem with the company’s existing facility and will allow the company to secure the products it needed.