Gateway Enters Strategic Alliance With LEAF Financial and Merrill Lynch for Flexible Technology Leasing Programs
September 13 2005 - 9:01AM
PR Newswire (US)
New Financing Options Allow Businesses, Government Agencies,
Educational Institutions and Solutions Providers to Better Optimize
Technology Investments IRVINE, Calif., Sept. 13
/PRNewswire-FirstCall/ -- Gateway, Inc. (NYSE:GTW) has launched a
financing program that allows its customers to make technology
investments that enable growth without expending important working
capital needed for day-to-day operations. Gateway, the nation's
third-largest PC company, is partnering with LEAF Financial
Corporation, a wholly-owned subsidiary of Resource America, Inc.
(NASDAQ:REXI), and its strategic alliance partner Merrill Lynch to
provide leasing programs to Gateway professional customers. These
programs will provide Gateway's commercial, government and
institutional customers with affordable and flexible alternatives
for acquiring computer products and services. By electing a leasing
option, organizations are able to meet their technology needs while
simultaneously conserving working capital and existing credit lines
to optimize their technology investment. Professional customers
will be able to choose from several specially designed leasing
products and payment plans for growing businesses and institutions
from LEAF. These will include true leases with fair market value
residual, full-payout leases, tax-exempt municipal programs, and
options for seasonally adjusted "flex" payments. Additionally,
leases can be customized to include maintenance costs, supplies and
software. "With the LEAF leasing program, we are now able to offer
our customers an affordable financing option for obtaining the
products and services they need to run their organizations," said
Ken Hall, director of financial services, at Gateway. "We are
excited about the combination of web tools, leasing products and
additional sales support that we are now able to provide our
customers." For educational institutions and government agencies
that hold to pre-set spending times and bulk buys, leasing programs
offer a built-in asset management strategy. These organizations are
able to purchase computer equipment and services as needed
throughout the year. By partnering with LEAF and Merrill Lynch, a
world-wide leading financial management and advisory company,
customers are provided with the assurance that they are getting a
competitive lease program that best meets their specific needs.
Additionally, Gateway sales team members have access to the LEAF
Leasing Portal and can input customer information for credit limit
and lease approval within minutes. To further provide financial
flexibility and save administration time, other leasing features
include master lease agreements, flexible payment schedules, and
total solutions financing. Additionally, for state and local
government agencies with a fiscal funding termination provision, a
tax exempt plan is offered. "Flexibility is key," said LEAF's
Chairman and CEO, Crit DeMent. "Proper financing is what enables
many businesses, government agencies and institutions to make
technology investments. Our multifaceted and comprehensive program
at Gateway gives customers what they need to stay competitive and
within budget." To help administer these new leasing products to
its customers, Gateway is adding a team of LEAF staff on site at
its North Sioux City, South Dakota offices. Gateway Professional
From value-priced servers to ultra-reliable desktops to
comprehensive services, Gateway has served organizations for 20
years. Gateway makes technology purchase, use and support simple
through the programs developed for education, government, business
customers as well as the ProNet Partner Program bringing
channel-friendly benefits to help solution providers strengthen and
grow their businesses. Gateway customers include many of the
world's leading organizations, such as the U.S. Defense Logistics
Agency, the University of Arizona, state of California, state of
New York and others. For more information on Gateway Professional
solutions, visit http://www.gateway.com/business. About LEAF
Financial Corporation (http://www.leaf-financial.com/) LEAF
Financial Corporation is a commercial leasing company headquartered
in Philadelphia, PA. LEAF's business model is to originate small
ticket equipment leases by reaching the small to mid sized business
market by forming strategic marketing alliances and other program
relationships with equipment vendors, commercial banks and other
financial institutions. After origination, LEAF manages the leases
for its own account, institutions, and individual investors through
investment partnerships and other investment vehicles. LEAF
Financial Corporation is a wholly owned subsidiary of Resource
America Inc. (NASDAQ:REXI). About Resource America Inc.
(http://www.resourceamerica.com/) Resource America Inc. is a
specialized asset management company that uses industry specific
expertise to generate and administer investment opportunities for
its own account and for outside investors in the equipment leasing,
financial services energy and real estate industries. For more
information please visit our website at
http://www.resourceamerica.com/ or contact investor relations at .
About Gateway Since its founding in 1985, Irvine, Calif.-based
Gateway (NYSE:GTW) has been offering award-winning PCs and related
products to consumers, businesses, government agencies and schools
with the highest quality and service and best overall value.
Gateway is now the third largest PC company in the U.S. and among
the top ten worldwide. The company's value-based eMachines brand is
sold exclusively by leading retailers worldwide, while the premium
Gateway line is available at major retailers, over the web and
phone, and through its direct and indirect sales force. See
http://www.gateway.com/ for more information. DATASOURCE: Gateway,
Inc. CONTACT: Bryan Sherlock of Gateway, Inc., +1-949-471-7756, ;
or Pamela Schreiber of Resource America, Inc., +1-215-546-5005, Web
site: http://www.gateway.com/business Web site:
http://www.leaf-financial.com/ Web site:
http://www.resourceamerica.com/ Web site: http://www.gateway.com/
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