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Wells Fargo Creates Business Credit Center

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Wells Fargo has created a new online resource called the Business Credit Center. The new website is designed for small business owners and prospective entrepreneurs. On the website, viewers can learn about commercial credit, government financing options and how to calculate commercial loan financing needs.

“As America’s leading small business lender, we have an important responsibility to provide small business owners both access to capital, and access to the financial guidance they need before and after obtaining credit. The new Business Credit Center is another way we support small business owners. It offers straightforward, relevant information business owners can use to better understand financing options for their businesses,” said Lisa Stevens, lead executive for Small Business and West Coast Regional Banking president, in a Wells Fargo news release.

Videos, podcasts and articles on the new website help educate borrowers on aspects of commercial loans. Hoping to generate a more friendly user experience, Wells Fargo’s new website can be customized by each user to only reveal relevant content based on both the user's needs and the user’s number of years in operation.

One small business owner has already enjoyed the benefits of the new Business Credit Center.

“As a business owner, I’m always looking for ideas I can put into practice to improve my business today and prepare my business for tomorrow. Having financing information in one location online can help. What I appreciate about The Business Credit Center is that it’s also part of a broader resource for business owners with information I can use, like a section on Business Stages to help me think about the next step for Art 2 Ink,” said Art 2 Ink owner Lidia Korinko, in a Wells Fargo news release.

Wells Fargo lent $26 billion in commercial loans in 2011. The bank was the SBA’s top commercial loan lender for the fiscal year from Oct. 2011 to Sept. 2012. Wells Fargo currently has a four-year winning streak for offering the most SBA loan dollars. This is also the second year that Wells Fargo has lent over $1 billion to commercial entities. Wells Fargo is one of the largest banks in the country with $1.4 trillion in assets. The massive bank offers services beyond banking in insurance, investments, mortgages, consumer finance and, of course, commercial financing. Wells Fargo has also been the leading financer to women and minority-owned commercial entities.

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