PORTSMOUTH, N.H.-- (BUSINESS WIRE) -- Direct Capital Corporation announced today that it has closed a new three-year $50 million equipment lease-backed bank facility with the Lender Finance division of Wells Fargo Foothill, part of Wells Fargo & Company (NYSE:WFC).

This is the second financing program closed in the last six months by Direct Capital, a leading nationwide provider of financial services, including commercial equipment financing and business loans. These two programs followed a January announcement of the extension of an existing $100 million facility.

“Wells Fargo Foothill is a knowledgeable and experienced financial partner,” said Christopher Broom, Chairman of Direct Capital. “We are pleased to welcome them to Direct Capital.”

With the addition of the Wells Fargo Foothill facility, Direct Capital has significantly strengthened its ability to help businesses nationwide access capital. “There continues to be a major void out there for companies that are seeking to access capital,” said Paul Ringuette, Direct Capital’s Vice President of Sales . “We are attacking this issue every day by reaching out to companies and letting them know we are here for them. With this added funding capacity, this message will only become louder.”

"We are pleased to have completed this financing for Direct Capital Corporation, an industry leader in small ticket equipment leasing,” said Andrea Petro, Executive Vice President and Division Manager of Wells Fargo Foothill Lender Finance. “We look forward to supporting the company’s senior management team in its plans for ongoing success.”

Direct Capital was recently recognized as the 6^th largest independent leasing and finance company in the United States by the leasing industry trade magazine, The Monitor.

For more information about financing options from Direct Capital, call 800-999-9942 or visit www.directcapital.com.

About Direct Capital

Established in 1993, Direct Capital provides specialty finance solutions, including commercial equipment financing, commercial loans, and merchant cash advances. Direct Capital markets its services through direct relationships with businesses and through partnerships with vendors, dealers, and manufacturers of capital equipment. Superb execution on its exceptional and unique direct service delivery model is the cornerstone of Direct Capital's success in an increasingly commoditized financial services industry. Direct Capital is headquartered in Portsmouth, NH and operates offices in New York, California, Chicago, Detroit, Ohio, Iowa, and New London, NH.

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 $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores, over 12,000 ATMs and the Internet (wellsfargo.com) across North America and internationally. For more information, visit wellsfargofoothill.com.

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