Cosmetix West Finalizes Agreement with Wells Fargo Bank

EL SEGUNDO, Calif.--(BUSINESS WIRE)--Cosmetix West, one of the country’s leading contract manufacturers of beauty products and fragrances for famous-name brands, announced today the completion of its financing and small-business banking agreement with Wells Fargo Bank.

“For many years, we dealt with the so-called ‘bank to the stars’ that sells itself as small business’s best friend. So I didn’t know any better what it meant to actually have a bank as your partner until I met with Well Fargo’s team and realized what we’d been missing.”

The completed deal includes a substantial working-capital line of credit for Cosmetix West’s operating expenses, an additional equipment line, and an array of banking services designed to ensure the 20-year-old Cosmetix West’s continued growth.

“I couldn’t be happier about this new relationship with Wells Fargo,” said Ron Chavers, the founder and chief executive of Cosmetix West. “For many years, we dealt with the so-called ‘bank to the stars’ that sells itself as small business’s best friend. So I didn’t know any better what it meant to actually have a bank as your partner until I met with Well Fargo’s team and realized what we’d been missing.”

Chavers continued, “The funny thing is that Wells Fargo is many, many times larger than my previous bank, and yet I’m treated like I’m one of their only customers. My only regret is that I didn’t do this sooner.”

Victor Castillo, vice president-senior commercial lender at Wells Fargo, observed, “Cosmetix West is exactly the kind of company we want to support. Businesses like Cosmetix West are the engine of the American economy. Their success is our success — it’s all of our success. Ron has a vision of where he intends to take his company, and we’re going to help him get there.”

Chavers pointed out that it was particularly fitting for his Southern California-based company to be aligned with a multinational bank that was founded in California after the gold rush. “We’re proud,” he said, “of being able to put ‘Made in California’ on the labels of every product we make, many of which find their way around the world.”

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If you would like more information, or to schedule an interview with Ron Chavers, please call Salomeh Daley at 310-726-3080 x2060.