Technology manufacturer IBM has made $4bn (3.1bn) of funding available through its captive finance arm IBM Global Financing to sales teams in its Business Partners network.
The financing, which begins with a minimum transaction of $5,000, will be available for credit-qualified clients over a 12 month period, starting from 0% interest with no money down. IBM is aiming the scheme at clients who need up-to-date technologies such as cloud, analytics and the company’s big data software suite PureSystems.
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The scheme follows IBM’s provision of $1bn of financing to SMEs in 2011, also through IBM Business Partners.
Mark Hennessy, general manager of IBM Business Partners, said that it was often difficult to find capital for a new business or idea, but that with its new funding injection effort IBM aims to provide the right resources to its partners and clients to ensure that "businesses, large and small, have access to the right technologies for success."
IBM is also launching an app to make it easier for IBM Business Partners to arrange financing for clients via mobile.
The app will be available for iOS and Android mobiles in the US from this month, and a global rollout will begin in China in January. It will provide a seller interface for contracts worth up to $500,000, which can be approved on-the-go.
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