IBM offering $US4 billion in credit through partners

The announcement follows a $US1 billion credit push to SMBs last year

IBM is offering $US4 billion in new credit to customers through its partner channel, and has also developed a new mobile application to help them get financing quickly, the company announced Thursday.

The move follows a $US1 billion credit allocation IBM announced last year for small and medium-size businesses. As a result of that offer, some 6,800 global companies took advantage of financing to buy IBM products and services within a year, instead of an expected 18 months, IBM said in a statement.

IBM's new Global Financing mobile application will be rolled out in the U.S. this month. A worldwide release will start in January, beginning in China.

The application will allow partners to "provide their clients with price proposals and generate credit approvals within minutes using an iPad, iPhone or Android mobile device," on deals valued at up to $500,000, IBM said.

Financing packages will begin as low as zero-percent interest for one year, with no down payment required, according to IBM. Offers will be available through partners in more than 50 countries, it added.

The move seems aimed at getting businesses to continue making IT purchases even as credit markets remain tight and the global economy is on uncertain footing.

IBM itself is well positioned to offer the credit line, having $US12.3 billion in cash on hand as of the quarter ended September 30.

Its announcement comes just days after rival hardware and software vendor Hewlett-Packard expanded its own partner financing program.

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris' email address is Chris_Kanaracus@idg.com

More about: Hewlett-Packard, IBM, IDG
Comments are now closed.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: business issues, services, IBM, hardware systems, software, investments
ARN Directory | Distributors relevant to this article
ACA Pacific , Avnet Technology Solutions , Bluechip Infotech , COMPUTERLINKS , Dicker Data , Dynamic Supplies , Impact Systems Technology , Ingram Micro Australia , Leader Computers , Lynx Technologies , POS POS , Synnex Australia , Topstar Computer International , Wholesale IT
Get exclusive access to ARN's news, research and invitation only events.
ARN Distributor Directory
ARN Vendor Directory
Microsites

iAsset is a channel management ecosystem that automates all major aspects of the entire sales,marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.

 

Latest News

03:39PM
Cloud an alternative to growing IT complexity: Schneider Electric
02:49PM
Telstra partners New Zealand firm Mako Networks
02:33PM
Fujitsu and Panasonic join forces in new semi-conductor business
12:12PM
HP unveils its flash-driven XP7 storage
More News
05 May
CeBIT Australia 2014
06 May
Oracle Day 2014 - Across 2 Cities
06 May
Oracle Day 2014 - Across 2 Cities
06 May
IM Experience
View all events