Bekker's Blog

Blog archive

IBM Quadruples Financing Pot to $4 Billion

IBM announced to its partners on Thursday that it will provide $4 billion in financing over the next 12 months for credit-qualified clients. The total, intended to spur technology purchases by small and midsize businesses worldwide, represents a quadrupling of the amount of financing IBM had promised a little over a year ago.

In September 2011, IBM had committed to providing $1 billion in financing, an amount Big Blue expected to need about 18 months to dole out. Instead, some 6,800 companies around the world used that financing in just 12 months.

"Smaller businesses, in particular, exhibited a stronger than expected appetite for new technology, including analytics, cloud and advanced infrastructure," IBM stated in a news release about the expanded financing.

Emboldened by the ability of the IBM-provided financing to kickstart purchases in spite of ongoing struggles in the global economy, IBM is upping its own stimulus effort with partners as the evangelists.

"The gap between a promising vision and a business reality appears to be even more of an unbridgeable chasm. With this effort, IBM aims to provide the right foundation and resources to our global ecosystem of partners and clients to ensure that businesses, large and small, have access to the right technologies for success," said Mark Hennessy, general manager of IBM Global Business Partners & Midmarket, in a statement.

The financing will be made available through IBM Business Partners in more than 50 countries. Partners can also use the financing themselves to expand their own businesses. In the United States, the offerings are provided through IBM Credit LLC and the minimum transaction size is $5,000.

At the same time as IBM is increasing its pool of credit, the company is also launching a new mobile app that will allow IBM Business Partners to apply for financing on behalf of their clients from a sales call and get an answer back within minutes, the company said.

Earlier in the week, HP also expanded its Extended Finance Program for resellers.

Posted by Scott Bekker on November 15, 2012


Featured

  • Image of a futuristic maze

    The 2024 Microsoft Product Roadmap

    Everything Microsoft partners and IT pros need to know about major Microsoft product milestones this year.

  • Microsoft Sets September Launch for Purview Data Governance

    Microsoft's AI-powered Purview solution to address governance and security challenges is set to become generally available on Sept. 1.

  • An image of planes flying around a globe

    2024 Microsoft Conference Calendar: For Partners, IT Pros and Developers

    Here's your guide to all the IT training sessions, partner meet-ups and annual Microsoft conferences you won't want to miss.

  • End of the Road for Kaspersky in the United States

    Kaspersky on Monday said it is shuttering its U.S. operations, just days before a nationwide ban on sales of its security software was set to take effect.