Daily News: February 27, 2014

Wells Establishes Channel Financing Program for AT&T Resellers

Wells Fargo Capital Finance announced that its Supply Chain Finance group, established a channel financing program for solution providers in the AT&T Partner Exchange reseller program. The innovative program helps solution providers create custom solutions for their business customers by bundling AT&T’s advanced mobility, cloud and IP networking solutions with hardware, software and managed services. This is the second recent announcement of a leading technology company tapping into Wells Fargo’s Channel Finance Program — a program known as an open-account alternative financing solution for resellers, solution providers and vendors.

Through the program, qualified solution providers in the AT&T Partner Exchange program can take advantage of extended financing terms, and 60-day interest-free repayment terms on sourced network services, cloud, hosting services and mobility services. The Channel Finance program will focus on giving solution providers a program that may increase their working capital and cash-flow, improve liquidity and attain the financial flexibility to help grow their businesses.

“Solution providers need to increase their purchasing power to scale their business and generate a strong revenue stream,” said Randall Porter, VP, business development, Emerging Business Markets, AT&T Corp. “Wells Fargo Capital Finance can help solution providers grow their business and increase profit potential by reselling our advanced solutions.”

“We are very pleased to provide a channel finance program for the AT&T Partner Exchange that will improve liquidity for qualified solution providers,” said Steve Hopkins, senior managing director, Supply Chain Finance group, Wells Fargo Capital Finance. “We believe and have demonstrated the value of the financial benefits this channel finance program will bring to the solution providers.”