DES MOINES, Iowa — Wells Fargo Preferred Capital recently provided a revolving credit facility to K STReet Finance, a indirect auto finance lender that serves dealerships in southern California.

Officials said the total amount of the credit facility came in at $12 million.

K STReet Finance is headquartered in Santa Ana, Calif., and has worked with used-vehicle dealers since 1972 in Orange, Los Angeles and San Diego counties.

"From the beginning of the process to the end, we felt that Wells Fargo Preferred Capital fully understood our industry and most importantly, our company," stated George Hurley, president of K STReet Finance.

"Wells Fargo has the right corporate culture and stable leadership to grow with us and meet our expansion needs," Hurley added.

"The strong management group at K STReet coupled with their deep auto experience is their formula for success and a testament of companies that continue to evolve and emerge during periods of change,'' noted Tom Murphy, president Wells Fargo Preferred Capital.