Lifeboat Distribution offers our partners the ability to select customized billing features that best suit your individual budgetary requirements. With several options to choose from, you will have the capability to properly forecast your cash flow for outgoing expenses.
Our flexible financing options also provide our customers with immediate purchasing power to capture full sales potential. Furthermore, by delaying cash outflows, this makes it possible for you to maximize the benefits of every dollar attached to your fiscal operation.
See below for a list of our comprehensive financial services programs:
Traditional Payment Methods
- Orders are pre-paid prior to shipment via wire transfer, check or ACH
*Please contact AR@waysidetechnology.com for Wire/ACH instructions
- Credit limits greater than $25,000 may require financial statements for review
- Possible additional security requirements — UCC filing with security agreement
*Term accounts will be charged a convenience fee of 3% if Term invoices are paid with a credit card
- Lifeboat Distribution accepts Visa®, MasterCard®, American Express®, and Discover®
Transition Credit Program
- This program allows customers to transition from using a credit card as payment to using a flexible net terms credit line
- Please contact AR@waysidetechnology.com for additional details and learn how you can best utilize this program
"Flooring Program" (pending bank approval)
This program provides value added resellers with access to the best terms available and a simpler, smarter way to purchase product without constraining cash flow.
Lifeboat Distribution is offering a joint agreement which allows up to 60 days interest-free financing to qualified resellers on Lifeboat purchases. The following financing companies are participants in this program: Wells Fargo®, GE Wells Fargo®, De Lange Landen® (DLL) and IBM.
- No set-up fee
- No annual fee or minimum usage requirements
- Reduced bank borrowing costs and increased credit capability
After opening a line of credit with one of the above mentioned (and approved) companies, it is the customer's responsibility to then notify Lifeboat that orders will be processed via their new selected flooring company.
For those customers that do not qualify for sufficient credit, Lifeboat Distribution offers two escrow payment options.
Underwriting approval is based on the financial strength of the reseller and end user. Under this agreement, the end user is not aware of any arrangement with Lifeboat Distribution. However, the customer is required to open up an escrow account with Wayside Technology Group under their own Tax ID number. Any form of payment received from the customer's end user must then be directed through the escrow account.
Visible Escrow or Assignment of Proceeds
Under this agreement, the Lifeboat customer must inform their end-user to make payment directly to Lifeboat Distribution. After receiving payment, Lifeboat Distribution will then return the agreed upon margin back to the customer.
Extended Financing Option
For credit worthy customers and qualified transactions, Lifeboat Distribution offers extended financing up to 2 years.
Note: Qualification, Interest rate and terms are determined based on credit worthiness, deal size and other factors.
For more information on this program please contact either Freddie Rivera, Tim Popovich or Michael Byrnes.