Lenovo, CIT expand financing programme in Europe

Lenovo and CIT Group Inc, a leading financing provider, today signed a letter of intent to extend the Lenovo financial services programme within Europe. Under the programme, CIT will provide a range of vendor and end-user financing solutions for Lenovo's business partners and customers.

The financing programme, which was launched in the United Kingdom today, will be followed by France and Germany by the end of 2010 and additional countries in Western Europe by 2011.

"This announcement demonstrates our commitment to providing our customers the best global vendor financing experience possible, and we believe that the Lenovo financial services programme will allow us to focus on financing programmes tailored to meet the specific needs of our customers," CIT said in a release.

"The expansion of the Lenovo financial services programme in Europe will provide us with a greater opportunity to offer financial services alternatives to our customers, globally," said Rory Read, president and chief operating officer, Lenovo.

"We are very excited to announce the expansion of our global relationship with Lenovo, one of the fastest growing PC companies in the industry.

The expansion within Europe of LFS further demonstrates our position as a leading provider of vendor financing solutions and reinforces our commitment to the market. It reflects CIT's ability to provide commercial financing solutions for customers of the leading technology companies around the world," said Ron Arrington, president of CIT Vendor Finance.