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IBM to finance SMBs

    • 1 posts
    July 16, 2012 2:41 AM EDT

    Hi everyone,

     

    I came across this very interesting piece of news regarding IBM and their decision to finance SMBs. Sharing it here.

     

    PETERBOROUGH, UK., – 10 JUL 2012: IBM (NYSE: IBM) today announced that it will provide $1 billion in financing to help credit-qualified small and medium businesses (SMBs) over the next 18 months  take advantage of a new suite of advanced technologies such as analytics and cloud. This effort is designed to help SMBs spur innovation and drive economic growth by making credit more easilyaccessible, with approvals often in less than 60 seconds, through IBM Global Financing.

    Financing is one of the biggest challenges limiting the success of SMBs today.  U.S. Small Business Administration (SBA) consistently reports that well over 50 percent of small businesses fail within their first five years due to lack of capital. Since this segment is responsible for nearly 65 percent of global GDP, representing more than 90 percent of all businesses and employing more than 90 percent of the world’s workforce, SMBs play a critical role in a global economic recovery.

    What is the application process for this financing?
    Financing is available to credit-qualified clients for solutions sold directly by IBM as well as through our partner channel.

    Will you only be financing IBM technology?
    While the first mission of IBM Global Financing is to help finance client acquisition of IBM technology and services, we understand that clients buy solutions from a variety of vendors.  We do offer financing for both IBM-only deals and those with a mix of IBM and non-IBM hardware, software and services.

    How long will this program be available? 

    IGF has been around since 1981. IBM is committed to the helping our business partners take advantage of the midmarket opportunity and we do not see this as a short-term program, but a sustained effort to help small businesses innovate and grow.

    Where did the $1 billion number come from?  

    IBM Global Financing determined that a significant amount of financing will be required to really impact SMBs as they transform themselves in the current economic climate. IBM also is devoting time/energy/resources in marketing, sales and project management to help IBM Partners get client IT projects identified and started.

    What form will this $1 billion in financing opportunities take?

    IBM Global Financing will offer SMB companies simple, flexible lease and loan packages, providing affordable and predictable payments. This will allow clients to immediately acquire the technology and services they need to begin transforming their businesses, while managing their cash flow effectively.  With IBM Cost Buster financing solutions,* clients can focus on addressing strategic issues right away, with nothing down and by simply making monthly (or quarterly) payments.

    Are you a small business that needs funding in the UK for computer equipment? Apply now here: https://www-03.ibm.com/financing/uk/contact/rep.html

    IBM Global Financing FB Page: www.facebook.com/ibmglobalfinancing

    Twitter: @financeibm

    For more information, you can visit the following link:

    http://www.prfire.co.uk/finance/ibm-has-committed-to-provide-and-extra-1bn-globally-for-the-financing-needs-of-smes-to-help-them-to-invest-in-innovation-and-technology-ibm-uk-is-encouraging-the-take-up-by-smes-not-only-by-making-f-115594