D&H and Wells Fargo Come Together to Support Education Initiatives Such as ConnectED
SANTA MONICA, June 18, 2014 – Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), announced that their Supply Chain Finance group has established a Channel Financing program for D&H Distributing. D&H, a leading distributor of computer networking and IT products, recently added new tools and resources to support resellers working in the K-12 education marketplace, in accordance with guidelines from programs such as the U.S. Administration’s new ConnectED education initiative. D&H, in cooperation with Wells Fargo’s Capital Finance Channel Finance Program, is able to offer special extended financing terms, interest-free, to its resellers that will increase their cash flow, improve liquidity and attain the financial flexibility to help grow their businesses through sales in this vertical market.
D&H has more than 95 years of experience in the distribution marketplace, spanning back to the days of the first color TV, the first home PC and the first gaming system. D&H is rooted in the tradition of taking a hands-on role in helping its reseller customers and manufacturing partners achieve their sales goals. The company is providing materials such as training, marketing materials and assistance with inventory and bid processing to support value-added resellers (VARs) in the complicated education marketplace. The new financing program from Wells Fargo helps provide financial resources for VARs who are looking to fulfill technology needs in K-12 classrooms, in support of the federal government education initiatives such as the ConnectED program, which calls for increased technology in the classroom. All D&H “K-12” products are eligible for this program, including desktops, laptops, notebooks, tablets, protective cases, charging/storage carts, networking, headphones, projectors, screens, and calculators.
“D&H is thrilled to be working with Wells Fargo Capital Finance to help extend favorable new finance options to our customers in the education vertical,” said Tony Warfield, director of credit services at D&H Distributing. “This new financing avenue will deliver additional purchasing power to help VARs accommodate new K-12 opportunities. It is a terrific complement to the host of new resources available through D&H to help resellers develop sales in this market.”
“As a leading channel finance provider, we are very pleased and honored to work with D&H on its K-12 education sales initiative for resellers,” said Steve Hopkins, senior managing director, Supply Chain Finance group, Wells Fargo Capital Finance. “We look forward to supporting D&H and their commitment to their channel partners as we work together on providing financial solutions to their resellers and supporting the education of our children across the country.”