MISSISSAUGA, ONTARIO, April 16, 2019 – Wells Fargo Commercial Distribution Finance TM (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 TM 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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