Wells Fargo CDF recently announced to dealers that is making short-term accommodations to financing programs in response to the COVID-19 pandemic.
For its Pay-As-Sold financing program, the company is offering interest deferment, curtailment deferment and/or due-in-full deferment.
For the Liquidation/Scheduled Payment Program financing program, Wells Fargo CDF is offering scheduled payment deferment on certain programs.
Payments for sold or otherwise disposed of inventory will be required to be made in normal course in accordance with financing agreements.
Hayley Anklam, a spokesperson for Wells Fargo, shared this statement with Rural Lifestyle Dealer: “As we continue to navigate the rapidly evolving COVID-19 situation, our first thought is for the safety and well-being of all individuals and businesses impacted by these difficult circumstances. Wells Fargo is working on a daily basis to ensure we are putting measures in place to support the needs of our customers affected by COVID-19 in the most effective ways. For Commercial Distribution Finance (CDF) customers, we are actively engaging to determine appropriate assistance, as specific needs vary per customer. Dealers and manufacturers should connect with their relationship managers for questions pertaining to their particular circumstances.
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