IT leasing and asset finance firm Syscap has provided a credit line to Arc Systems, a provider of IT support and cloud services.
Arc Systems sought funding to grow its client base as well as develop and fund its cloud offering.
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The funding line allowed Arc to change its business model, offering monthly subscription based services to 30% of its 300 customers in contrast to its traditional up-front payment model.
Over the last ten months, Syscap has provided approximately £90,000 credit to Arc Systems, to assist with sales aid services and through its Support Funder product. Support Funder is Syscap’s finance solution covering IT support and maintenance services, as opposed to traditional financing for assets such as hardware and software. This enables end customers to have one finance package covering all aspects of their IT service.
Associate director at Arc Systems Steve Holloway said: "Today even small businesses need an IT infrastructure that’s bang up to date but many can’t afford the investment up front. Without a solid financing option we would be restricted as to how much business we could do.
"To buy a new server or network costing thousands of pounds is a very big outlay for many of our customers, so we looked to partner with finance providers to put the cost into level monthly payments that customers could afford."
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By GlobalDataSyscap was acquired by asset management firm Wesleyan Group earlier this year.
