American Express and AT&T Capital Form Joint Venture for Small Business Equipment Financing.MORRISTOWN, N.J.--(BUSINESS WIRE)--Jan. 7, 1997--AT&T Capital Corporation and American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Company today announced a new 50/50 joint venture company, American Express CapitaFinance LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , which will provide equipment financing to small business owners nationwide. American Express and AT&T Capital also announced that they expect to soon launch programs providing Small Business Administration (SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government ) guaranteed loans and auto leasing services. The new entity will offer financing of up to $25,000 to small businesses via direct marketing. The program, American Express Equipment Financing, allows small business owners to finance a wider assortment of business equipment than they can with traditional manufacturer leasing. Financing is available for the purchase of everything from computers and fax machines to office furniture, telecommunications equipment and heavy machinery. The joint venture combines the expertise of AT&T Capital, a global equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
"The nation's 20 million small businesses are an economic powerhouse A fourth-generation language from Cognos that was introduced in the late 1970s for midrange computers. It supports both character-oriented, terminal-based applications as well as Windows clients. Applications developed under PowerHouse can be imported into Cognos' Axiant client/server environment. , representing the third largest economy in the world," said Steven W. Alesio, president of American Express Small Business Services. "Their number one need is access to credit and the number one goal of American Express CapitaFinance is to provide it." "With this new relationship, AT&T Capital brings a sought-after range of equipment leasing and finance services directly to the American Express small business customer," said Thomas C. Wajnert, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AT&T Capital. "This venture complements AT&T Capital's successful efforts in serving the leasing and finance needs of small businesses throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ." This new program allows small business owners to shop for equipment anywhere that the American Express Corporate Card is accepted. After making a purchase, the owner calls a toll-free number to request a special Equipment Financing contract which simply needs to be signed and returned. Finance options range from one to five years. In 1996, for the second consecutive year, an independent survey of small business attitudes by Cicco & Associates ranked American Express first among more than 300 large corporations as the company mentioned most often as "particularly responsive to the needs of small businesses." AT&T Capital provides leasing, financing and related services to approximately 500,000 commercial customers in the United States, Europe, Canada, the Asia/Pacific region, Mexico and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . In addition to being one of the largest diversified leasing and financing providers for small business, AT&T Capital is a recognized global leader in providing financing to key multinational manufacturers and vendors for custom-designed financing programs for their customers worldwide. American Express Company is a diversified worldwide travel and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , investment products, insurance, accounting and international banking. CONTACT: AT&T Capital David Caouette American Express: 201-397-8724 (office) Richard D'Ambrosio 201-435-3494 (home) 212-640-4868 |
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