Lenovo Unwraps New Financing Plan for Small Business Resellers
Partner Credit Program Extends Product Financing Up To 60 Days
RESEARCH TRIANGLE PARK, NC – June 9, 2011: Lenovo (HKSE: 992) (ADR: LNVGY) today announced a new program by Lenovo Financial Services to extend financing terms to small-to-medium business (SMB) resellers in the U.S. 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. “Resellers now have an industry-leading solution to meet working capital objectives and leverage profitable revenue growth.”
The Lenovo Partner Credit Program, a joint program between Lenovo and De Lage Landen Financial Services, a global provider of high-quality asset-based financing products to manufacturers and distributors of capital goods, complements Lenovo Financial Service’s existing end user financing program, launched in June 2010. These programs give resellers powerful end-to-end solutions to address their own, as well as customer, requirements for available credit to finance PC acquisitions.
”We are excited to offer this product service to Lenovo resellers,” said John C. Reed, president, De Lage Landen Commercial Finance. ”SMB financing is a core competency for De Lage Landen and an underserved product offering in the channel.”
The Lenovo Partner Credit program comes on the heels of Lenovo’s first U.S. Channel Partner Summit in Las Vegas for more than 500 SMB resellers, which focused on Lenovo’s channel strategy, products and programs to accelerate business in this high growth segment. Lenovo has experienced recent record growth as the fastest growing of the top five PC manufacturers for six consecutive quarters and outgrowing the worldwide PC market for eight quarters in a row.
The Lenovo Partner Credit program begins immediately in the U.S. and is expected to expand to Canada by the end of 2011. Resellers can access more details and contact information about Lenovo Financial Services programs at www.lenovopartnernetwork.com.
Lenovo (HKSE: 992) (ADR: LNVGY) is a $US21 billion personal technology company serving customers in more than 160 countries, and the world’s fourth-largest PC vendor. Dedicated to building exceptionally engineered PCs and mobile internet devices, Lenovo’s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices, including tablets and smart phones. Lenovo has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information see www.lenovo.com
About De Lage Landen
De Lage Landen, a fully owned subsidiary of Rabobank Group, specializes in asset-based financing programs for equipment manufacturers, dealers and distributors all over the world. Our programs cover our customers’ total distribution chain, as well as the entire lease lifecycle. We offer customers a single source for leasing, administration, risk and asset management solutions. De Lage Landen’s diversified solutions include car leasing in the European market and consumer finance and factoring in the Dutch home market. Establishing a close and long-lasting relationship with our customers is at the heart of our company culture. This requires a genuine interest in and a thorough understanding of our customers’ business needs and goals. We partner with our customers to tailor solutions and develop programs that support mutual growth and profitability. We care not only about our customers, but also about the communities in which we operate. We strive to have a positive social and environmental impact through our products and the way we conduct business. For more information, please visit our website: www.delagelanden.com.