Wells Fargo to builders: The door is open

Wells Fargo is opening a new division that will focus on lending to regional and mid-sized builders, according to an Aug. 15 article in the Wall Street Journal. The loans are expected to finance small projects ($10 to $15 million) up to large corporate loans that can surpass hundreds of millions of dollars.

Bird Anderson, a Charlotte N.C.-based executive VP who will head the new division, told the WSJ: “In essentially every market we looked at this spring, we saw very real very tangible pockets of demand.”