Capital Business Sells TempFunds
Capital Business Credit LLC sold its Capital TempFunds business, which funds staffing companies, to Wells Fargo & Co. According to Capital Business, the sale will allow the company to focus on its core factoring business. “We’ve chosen to redeploy our resources on our primary business,” said Andrew Tananbaum, president and chief executive officer at Capital Business Credit. “There are lending opportunities for Capital Business Credit within our core markets, and it is important that we have surplus capital to meet the needs of our clients.”
