Wells Fargo unites three Canadian asset-based lending units under Wells Fargo Capital Finance

By Marisa Wong

Milwaukee, April 23 - Wells Fargo & Co. announced that it has combined its asset-based lending units in Canada with the asset-based lending unit of Wachovia.

Wachovia Capital Finance Corp. (Canada), Wells Fargo Business Credit Canada ULC and Wells Fargo Foothill Canada ULC will now market under the trade name Wells Fargo Capital Finance.

Wells Fargo Capital Finance will provide a range of flexible financing options from traditional asset-based lending and accounts receivable financing, according to a news release.

Combined, the businesses of Wells Fargo Capital Finance have more than $26 billion in outstanding loans.

Wells Fargo is a financial services company based in San Francisco.

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