CIT global vendor finance, the asset
finance division of US financial services group CIT, has announced
a new partnership with Equanet, a Dixons retail-owned provider of
IT solutions to businesses. The venture will offer finance and
leasing to UK-based companies in order to fund educational and
business projects in IT.
CIT will offer Equanet customers 0% leasing
options on all hardware purchases over £1,000 in value.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Phil Birbeck, managing director of DSGi
Business, Dixon’s provider of IT solutions, said: “In the current
economic climate it is often difficult to invest in critical
technology. Banks haven’t met their lending targets to SMEs, yet
companies need to free up cash flow and maximise their IT budgets.
This partnership will offer vital financial solutions to SMEs.”
A recent survey into IT leasing and
financing by the International Data Corporation claimed that 70% of
companies say that availability of leasing is critical in vendor
selection.
Rich Green, managing director for CIT
vendor finance in Europe said: “This is a perfect opportunity to
incorporate greater leasing solutions into Equanet’s already
extensive IT services and for both companies to develop and create
relationships with UK SMEs and the private sector.”
CIT, which
emerged from bankruptcy in 2009, posted strong growth in
its vendor finance division
in the third quarter of this year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
