Wells Fargo Commercial Distribution Finance™ Marks 50 Years of Inventory Finance in Canada
April 16 2019 - 10:00AM
Business Wire
Canada’s leading floor planning provider celebrates five decades
of growth, financing more than 3,800 customers
Wells Fargo Commercial Distribution Finance™ (CDF) announced
today its 50th anniversary of providing inventory financing in
Canada. Based in Mississauga, CDF employs more than 200 people and
serves more than 3,800 businesses in all 10 provinces and three
territories.
Founded in 1969, CDF provides customized financing solutions to
fund the flow of finished durable goods from manufacturers to
dealers. As the global leader in inventory financing, CDF operates
top-of-the-line technologies and industry expertise to support its
customers to help cash flow, reduce risk and grow sales.
“We are proud of our history in Canada, the team we have built
and our long-standing customer relationships that span decades,”
said Tim Nixon, head of CDF in Canada. “Even as we pause to reflect
on the past five decades, we are excited to embark on another 50
years of service, continue to give back to our communities and
organizations and help our customers succeed financially.”
Today, CDF is one of the leading inventory finance providers in
Canada with customers spanning from local family-owned businesses
to large national companies in key industries, including
recreational vehicle, marine, powersports, agriculture, lawn and
garden, and electronics and appliances.
“When we decided to expand our RV business in 1977, it was clear
CDF was who we needed to work with, and 42 years later, CDF is
still the one you turn to,” said Jonathan Stone, operations manager
for Stone’s RV & Home Center, a family-run business based in
Nova Scotia. “The team is professional, extremely accessible and
faces our business challenges head on. I would definitely recommend
CDF, they are like family.”
“CDF has been our finance supply provider for more than 45 years
because they understand what it means to work as a team,” said
Becky Gilmore, general manager of Hully Gully, an Ontario-based
powersports business. “Whenever our business goes through changes,
our CDF representatives are always willing to adjust and provide
the support necessary for us to be successful. CDF cares about its
customers, and that’s something we really appreciate.”
Giving back and supporting local communities is a priority for
Wells Fargo and an imperative for CDF. For more than a decade,
Canadian team members have supported Peel Children’s Aid
Foundation, a nonprofit aimed at transforming the lives of youth
and caring for a new generation of vulnerable families.
“We are so grateful for the support and ongoing commitment from
Wells Fargo for many of our projects,” said Renae Addis, executive
director of Peel Children’s Aid Foundation. “We have already seen a
tremendous impact from investing in programs that foster growth and
future success. The children and youth we work with deserve the
same opportunities as their peers, and Wells Fargo shares our
commitment to championing their needs. We look forward to working
with Wells Fargo for many years.”
For more information on CDF’s 50th anniversary in Canada, please
visit https://wellsfargo.ca/.
About Wells Fargo Commercial Distribution
Finance
CDF provided $41 billion in financing for more than 30,000
dealers and more than 1,200 distributors and manufacturers globally
in 2017. Wells Fargo CDF™ provides inventory financing
solutions, service and intelligence through in-depth industry
expertise and commitment. Programs include inventory and accounts
receivable financing, asset-based lending, private label financing,
collateral management, and related financial products. For more
information, visit wellsfargo.com/cdf or follow company
news via Twitter @WellsFargoB2B.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $2.0 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investments, mortgage, and consumer and commercial finance through
more than 8,300 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42
countries and territories to support customers who conduct business
in the global economy. With approximately 263,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 25 on Fortune’s 2017
rankings of America’s largest corporations.
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Hayley Anklam,
415-769-1027Hayley.Anklam@wellsfargo.com@HayleyAnklamWF
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424-268-6202Trisha.Schultz@wellsfargo.com@TrishaSchultzWF
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