Lenovo announces Financial Services Program with CIT

Lenovo and CIT Group Inc have signed a letter of intent to establish Lenovo Financial Services (LFS). LFS is a new program that will provide a broad range of vendor financing solutions for Lenovo’s business partners and customers who utilize Lenovo's extensive range of technology products and services. The LFS program will begin in North America from June 1, 2010.

“The creation of the Lenovo Financial Services program provides us the opportunity to offer financial services alternatives to our customers,” said Rory Read, President & COO, Lenovo. "This announcement demonstrates our commitment to providing our customers the best vendor financing experience possible, and we believe that the Lenovo Financial Services Program will allow us to focus on financing programs tailored to meet the specific needs of our customers."

The LFS program will offer leasing and financing options, as well as tools and online capabilities with the operational support of CIT. The program is designed to make it simple for Lenovo partners and customers to finance their technology solutions. It will help Lenovo customers who want to maximize their purchasing power by obtaining the technology they need today, protecting against technology obsolescence and preserving their capital for other uses.