Wells Fargo acquires Capital TempFunds for credit operations

A known bank group Wells Fargo & Company has announced today that its division Wells Fargo Business Credit has acquired operations of Capital TempFunds, a division of Capital Business Credit, LLC., under unknown conditions. 

Capital TempFunds is an independent national lender that specializes in providing financial solutions to the staffing industry. After the acquisition, Capital TempFunds will become part of Wells Fargo Business Credit’s Staffing Services Group, which provides accounts receivable financing to staffing companies nationwide. 

“Capital TempFunds is a tremendous fit for our organization,” said Scott McArron, head of Wells Fargo Business Credit’s Staffing Services Group. “Together we’ll strengthen our accounts receivable financing programs for staffing companies, offering them a strong financial solution to meet their capital needs. We want to satisfy all their financial needs and help them succeed financially.” 

Source: Wells Fargo