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

2014 ARN Women in ICT Awards - Nominate Now!: Nominations have opened for WIICTA 2014 and will stay open until October 22. But don't be late, be among the first in and NOMINATE NOW!!!

Tags business issuesservicesIBMhardware systemssoftwareinvestments

More about Hewlett-Packard AustraliaIBM AustraliaIDG

ARN Directory | Distributors relevant to this article

Comments

Comments are now closed

 

Latest News

04:55PM
Availability Suite v8 has the channel in mind: Veeam
04:27PM
ZettaGrid gets exclusivity for Veeam’s CloudConnect
03:25PM
Australian Cloud services market to hit $4.55 billion
02:41PM
Interview: Brocade's new MD lays out SDN strategy
More News
23 Oct
NewLease & Microsoft Technical Sessions
23 Oct
NewLease & Red Hat Breakfast Briefing (Sydney)
29 Oct
NewLease & Microsoft Technical Sessions
30 Oct
Ovum 2020 Telecoms Summit
View all events