Business Services Industry
Dominion Business Finance, LLC Expands Lending Services to Growing Companies with $20 Million from Wells Fargo Foothill
Business Wire, Oct 16, 2007
TAMPA, Fla. -- Dominion Business Finance, LLC, a leading provider of working capital financing for growing businesses, today announced that it has obtained a $20 million Senior Credit Facility from Wells Fargo Foothill Lender Finance, part of Wells Fargo & Company (NYSE:WFC).
"Wells Fargo Foothill will substantially increase the flexibility available to us to achieve our growth objectives," said Jeffrey A. Mitchell, president of Dominion Business Finance, LLC. "Wells Fargo Foothill has unique understanding of our business. Further, their market leadership in financing specialty commercial finance companies like ours will allow us to expand our service offerings beyond asset-based lending and better support the needs of our portfolio clients."
"We are pleased to have provided the senior secured line of credit for Dominion Business Finance," said Andrea Petro, executive vice president and division manager of Wells Fargo Foothill Lender Finance. "The principals of the company have long and successful track records in asset-based lending. We are eager to work with the company to help them grow their portfolio and take their business to the next stage of successful development."
About Wells Fargo Foothill
Wells Fargo Foothill is a leading provider of senior secured financing to middle-market companies across the United States and Canada, offering flexible, innovative credit facilities from $10 million to $1 billion and more. It is part of Wells Fargo & Company, a diversified financial services company with $540 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 elsewhere 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." For more information, visit Wells Fargo Foothill on the Internet at www.wffoothill.com.
About Dominion Business Finance, LLC
Tampa-based Dominion Business Finance, LLC is one of the strongest, non-regulated providers of working capital financing in the eastern United States. Dominion offers working capital financing and asset based lending to growing businesses. Dominion also partners with community banks to enhance financing options for their commercial customers.
To learn more about Dominion Business Finance, LLC, visit www.financedominion.com.
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