Wells Fargo Capital Finance announced that their Supply Chain Finance group, has established a channel financing program for solution providers in the AT&T Partner ExchangeSM 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 Wells Fargo’s Capital Finance Supply Chain Finance 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, vice president, 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.”
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.