Lenovo Offers Channel Partners 60-Day FinancingBy Jessica Davis | Print
PC maker Lenovo is enhancing its existing slate of financing programs with a new one to help channel partners finance inventory acquisitions as they complete deals with end customers.
PC maker Lenovo (HKSE: 992) (ADR: LNVGY) has announced a new program from Lenovo Financial Services to provide 60-day financing for small-to-medium business resellers in the United States to help with supply chain financing challenges.
The new program builds on the year-old Lenovo Financial Services offerings introduced last year to provide financing to end-user companies.
"We've provided SMB resellers with access to the working capital they didn't have previously," Diane Croessman, executive director, Lenovo Global Financial Services, told Channel Insider. "It’s the only way an SMB reseller can grow their businesses. They won't have to borrow cash to fund their inventory acquisition. They can use this free period to get inventory from distributors."
The Lenovo Partner Credit program offers eligible resellers up to 60 days of interest free credit by extending indirect financing through Lenovo’s distributors, D&H, Ingram Micro, Synnex and Tech Data.
"We’ve introduced the Lenovo Partner Credit program in direct response to feedback from resellers who tell us they need working capital solutions to grow their business," said Chris Frey, North American Channel Chief, Lenovo, in a statement. "Resellers now have an industry-leading solution to meet working capital objectives and leverage profitable revenue growth."
The Lenovo Partner Credit Program is a joint program between Lenovo and De Lage Landen Financial Services, a global provider of asset-based financing products to manufacturers and distributors of capital goods.
The Lenovo Partner Credit program comes on the heels of Lenovo’s first Channel Partner Summit in the U.S. for SMB resellers. The program is available now in the United States and Lenovo plans to expand it to Canada by the end of 2011. More information about Lenovo Financial Services programs and the Lenovo Partner Program is available here.