Direct Capital Corporation announced that it 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.
This is the second financing program closed in the last six months by Direct Capital, which Capital provides specialty finance solutions, including commercial equipment financing, commercial loans, and merchant cash advances.
In January, Direct Capital announced the extension of an existing $100 million facility. With the addition of the Wells Fargo Foothill facility, it has significantly strengthened its ability to help businesses nationwide access capital.
“There continues to be a out there for companies that are seeking to access capital,” said Paul Ringuette, Dire major voidct 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.”