“Our business has developed into much more than the New York-based apparel factor it began as more than 50 years ago,” said Stuart Brister, president and CEO of Wells Fargo Trade Capital. “Today, retailers rely heavily upon international sourcing options. Our name change shows how we have evolved to meet the shifting needs of our clients by providing the financing solutions necessary to carry them through this global supply chain."
Wells Fargo Trade Capital, the largest bank-affiliated factoring company in the U.S., provides senior secured financing solutions for domestic and international manufacturers, wholesalers and importers through trade finance and factoring. Wells Fargo’s Asset-based Lending Group provides traditional asset-based and non-traditional senior secured financing solutions from $2 million to more than $1 billion, along with factoring, trade finance, purchase order finance and distribution finance products. The group’s businesses include Wells Fargo Foothill; Wells Fargo Retail Finance; Wells Fargo Business Credit; Wells Fargo Trade Capital; Wells Fargo Distribution Finance; Transcap, a Wells Fargo company; and the Canadian affiliates, Wells Fargo Foothill Canada and Wells Fargo Business Credit Canada.
Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody’s Investors Service, “Aaa,” and Standard & Poor’s Ratings Services, “AAA."