Wells Fargo Capital Finance, part of Wells Fargo & Company, announced that their Supply Chain Finance group has established a Channel Financing program for Dell, a leading global technology solutions company. Dell Financial Services, in cooperation with Wells Fargo’s Capital Finance Channel Finance Program, is able to offer special extended financing terms, interest-free, to their resellers and channel providers. Channel finance, also known as an open-account alternative financing program for vendors and resellers, supports Dell’s continued focus on providing their channel partners a solution that will increase their cash flow, improve liquidity and attain the financial flexibility to help grow their businesses.
“We are pleased that Dell and Wells Fargo have established an extended terms channel finance program that helps support our innovative IT solutions,” said Harry Martin, Jr., president and CEO of Intelligent Decisions. “Dell’s extended term financing is the type of creative solution that allows us the flexibility to pursue our strategic initiatives and meet the needs of our customers.”
“As a leading channel finance provider, we are very pleased to be one of Dell’s top channel finance providers to improve liquidity for their channel partners,” said Steve Hopkins, senior managing director, Supply Chain Finance group, Wells Fargo Capital Finance. “We look forward to supporting Dell and their commitment to their channel partners as we work together on providing financial solutions to enable growth.”
Cheryl Cook, Dell’s vice president of Global Channels and Alliances, said, “As we announced in December, Dell continues to create and deliver added value to the PartnerDirect program, making it easier for our partners to bring more solutions to customers. With Wells Fargo’s expanded repayment and credit terms offered through Dell Financial Services, both partners and customers can access the capital they need to build infrastructure and invest in their businesses.”
Wells Fargo Capital Finance is the trade name for certain asset-based lending services, senior secured lending services, accounts receivable and purchase order finance services, and channel finance services of Wells Fargo & Company and its subsidiaries.