Grass Valley financial services program introduced

Thomson today announced the Grass Valley Financial Services program, a new capital lending service launched in partnership with National City Commercial Capital Corp. (NC4).

Bob Verzello, National City vice president, says more frequent investments in new technology will drive budgeting decisions, reshaping the operating vs. capital expense relationship. This will be an extension of Grass Valley s products and services but funded and administered by National City, says Verzello. We have a unit dedicated to the media and entertainment industry so this is a good fit.

Verzello adds that any Grass Valley technology and system can be financed through the program with the plan giving customers a master credit line that can be used as needed during the budget cycle. It currently is only available in the U.S. but in phase two it will be extended to Canada and established reseller networks.

Programs available include fair market value lease, fixed purchase option lease, one-dollar buyout lease, integrated services agreement and hybrid and custom financing structures that might be a combination of two or more of the other programs.

The Grass Valley Financial Services program is a key addition to our support of customers. With it, we can enable our customers to move ahead with key shifts and expansions such as the move to HD and implementation of multiple distribution strategies without the added worry of limitations related to capital budgets, said Marc Valentin, president of the Grass Valley business within Thomson.