Cutter & Buck has established a $35 million line of credit with Wells Fargo & Company. A new, broad-based relationship between the two companies also includes a number of financial services, such as providing funding support for the company’s Seattle-based global sportswear and outerwear business.
“A relationship with a financial services company such as Wells Fargo, that has national and international reach, falls right in line with our mission to build a premium global consumer brand,” said Cutter & Buck CEO Fran Conley.
Wells Fargo Bank NA will agent a $35 million credit facility to finance the company’s working capital needs. Century Business Credit Corporation, a Wells Fargo company, will participate in the facility. Wells Fargo HSBC Trade Bank will provide all of the company’s trade finance services. Overall relationship coordination as well as treasury management, foreign exchange, and Internet banking services will come from Wells Fargo Bank’s Seattle-based commercial banking office.
“We are thrilled to be associated with Cutter & Buck. It is a high quality company with a terrific brand,” said John Rindlaub, Wells Fargo CEO for the Pacific Northwest. “Our broad-based approach to financial services allows us to satisfy all our customers financial needs and to help them succeed financially. Were a great fit with Cutter & Buck.”
