The two companies plan to extend financing terms to small-to-medium business solution providers in Canada. The program offers eligible resellers up to 60 days of interest free credit by extending indirect financing through distributors that now includes Tech Data Canada in addition to previously announced Supercom and Synnex.
Stefan Bockhop, director of channel sales for Lenovo Canada, said the Partner Credit program was created as a result of direct feedback from the SMB focused partner community specifically that cash conversion and working capital can be a challenge to growth. Growing channel business is a team effort so we value the participation of distributors such as Tech Data Canada. Together we will continue to meet working capital objectives while enabling SMB resellers to have the ability to prosper in the Canadian economy.
Rick Reid, president of Tech Data Canada, said the distributor was proud to support Lenovo Canada with this valuable program that directly impacts financing for SMB resellers. Tech Data Canada interact with SMB resellers on a daily basis, Reid added, and because of this the distributor fully understand their needs and desires to grow strong in Canada.
The Lenovo Partner Credit Program is a joint venture between Lenovo and De Lage Landen, a global provider of high-quality asset-based financing products to manufacturers and distributors of capital goods, complements the existing end-user financing program, launched in June 2010. These programs attempts to give resellers an end-to-end solution to address their own, as well as customer, requirements for available credit to finance PC acquisitions.
The Lenovo Partner Credit program was first launched in June 2011, following Lenovo’s first Channel Partner Summit in the U.S. for SMB resellers, which focused on Lenovo’s channel strategy, products and programs to accelerate business in this high-growth segment. The Lenovo Partner Credit program continues to offer Registered Lenovo Resellers the benefits of a 60-day free inventory finance option in Canada.