De Lage Landen and Tech Data Launch new Lease Line Program
De Lage Landen Financial Services (De Lage Landen), a global provider of high-quality asset-based financing products to manufacturers and distributors of capital goods, announced today that, together with Tech Data Corporation, one of the world’s largest distributors of technology products, it has launched the Lease Line program, a unique inventory finance and leasing solution.
Under the Lease Line program, De Lage Landen is offering Tech Data’s value-added reseller (VAR) customers the opportunity to obtain an extra 15 days of free floor planning for Tech Data products if the VARs agree to refer their end-users to De Lage Landen for retail leasing and meet certain minimum lease volume requirements. In addition, Tech Data’s VARs will have the opportunity to receive referral fees for any additional leasing business referred to De Lage Landen. “We believe this new program will streamline the financing process for our VARs, improve their cash flow management, and help them be more competitive in today’s challenging economic environment,” explains Mike Zava, Senior Vice President, Credit and Customer Service, the Americas, Tech Data. “By simply committing to flip their De Lage Landen inventory credit line outstandings to a lease at end-of-term, our VARs will receive 15 extra days of free flooring.”
“This is a very creative program that was possible due to the fact that our Commercial Finance and Office Technology business units operate under a single roof at De Lage Landen,” says Jan Schuil, Vice President, Commercial Finance, De Lage Landen. “Collectively, we were able to put our heads together and provide a single-sourced finance product that will immediately add value to Tech Data’s reseller base. We are excited to partner with Tech Data to offer an alternative financing solution.”
De Lage Landen’s extensive experience in inventory finance and leasing within the technology marketplace was a determining factor in its selection by Tech Data as a financing partner. “When seeking this unique flooring and leasing product to supplement our financing offerings for our customers, De Lage Landen was able to tie inventory finance and leasing together, demonstrating benefits to all parties involved,” says Zava.
To learn more about De Lage Landen’s solutions available through Tech Data, call 573-468-8952 or e-mail j.schmuke@delagelanden.com.
About Tech Data Corporation
Tech Data Corporation (NASDAQ GS:TECD) is one of the world's largest distributors of technology products from leading IT hardware and software producers. Tech Data serves more than 125,000 IT solution providers in over 100 countries. Every day, these value-added resellers depend on Tech Data to cost-effectively support the technology needs of end users, including small and medium businesses (SMB), large enterprises and government agencies. Ranked 102nd on the FORTUNE 500(R), Tech Data generated $24.1 billion in net sales for its fiscal year ended January 31, 2009. To learn more, visit www.techdata.com
About De Lage Landen
De Lage Landen is a global provider of high-quality asset-based financing products. Headquartered in Eindhoven (the Netherlands), De Lage Landen is 100% owned by Rabobank. This Dutch bank is Triple-A rated by the major rating agencies Moody’s and Standard & Poor’s. With offices and joint ventures in more than 35 countries worldwide, De Lage Landen specializes in asset financing and vendor finance programs on a worldwide scale. The global offering also includes an array of commercial finance solutions. The company focuses on the following industries: Food & Agriculture, Healthcare, Office Technology, Financial Institutions, Transportation and Construction & Industrial. De Lage Landen also offers private-label leasing programs for the Banking industry, and delivers a broad range of financial services to leasing organizations and non-banking financial institutions.
In the Netherlands, De Lage Landen offers a broad range of financing products, both through local Rabobanks and directly to the market. These products include Equipment Leasing, Car and Commercial Vehicle Leasing, ICT Leasing, Consumer Finance and Factoring. Athlon Car Lease International became part of De Lage Landen Group in 2006. Athlon Car Lease International is an international provider of operational car leasing, active in eight European countries. In 2008 De Lage Landen achieved a net profit of €235 million and a lease portfolio of €23.3 billion. By year-end 2008, De Lage Landen had 4,965 employees. For more information, please visit our website: www.delagelanden.com.
