RentSmart has secured another online financing deal, this time for Telstra's IT retail venture, the Telstra Shop Network.
More than 40 Telstra stores Australia-wide will offer RentSmart's financing services through the alliance. Customers will be able to rent computer equipment and peripherals rather than purchasing them outright.
Telstra no doubt had the growing SME and home office market in mind when the company penned the deal. Telstra Shop Network national manager David Bickett said the service would give such customers greater purchasing power.
"When the difference between a $2000 and a $3000 PC, printer and scanner package is as little as $8 per week, it makes it easier for small businesses to bundle up all the equipment they need," he said.
There are also rumblings of an online e-tailing venture for the stores which will incorporate RentSmart's online services. RentSmart currently offers such services to the likes of Coles Myer, Woolworths and Vox. The service allows customers to be approved for up to $15,000 in finance in minutes, 24 hours a day.
RentSmart managing director Ned Montarello said the SME market was the driving factor in the rental finance sector.
"With technology changing so quickly, businesses are looking to upgrade their computers faster than ever, so the finance they use has to give them the flexibility to do this," he said.
The RentSmart service will be up and running in Telstra stores by Christmas.