Wells Fargo Capital Finance provides $25 million to Ultra Diamonds
[Santa Monica, Calif., January 11, 2012] – The Retail Finance team at Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), recently provided Ultra Stores, Inc. a $25 million senior secured revolving credit facility, which will be used for ongoing working capital and other corporate purposes.
Founded in 1991, Ultra Diamonds is the fifth largest fine jewelry chain in America. It operates 138 locations in 34 states with the corporate home office located in Chicago, Illinois.
“We are excited to enter into this new relationship with Wells Fargo Capital Finance,” said Daniel Marks, president and CEO of Ultra Diamonds. “With this new facility, we now have the flexibility necessary to support our future growth and execute on our strategic plans.”
“We are pleased to have provided Ultra Diamonds this financing,” said Keith Vercauteren, head of the Retail Finance division at Wells Fargo Capital Finance. “We look forward to working with the senior management team at Ultra as the company continues to grow and succeed.”
About Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based lending, accounts receivable and purchase order finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior secured financing, accounts receivable financing, purchase order financing and channel finance to companies across the United States and Canada. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software publishing and high-technology, commercial finance, staffing, government contracting and others. For more information, visit wellsfargocapitalfinance.com
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
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