IBM has responded to a lack of access to business capital by announcing a $1 billion financing plan to help small and medium businesses (SMB) finance their products and services through IBM Global Financing. The company has long offered financing, but has expanded the program to allocate $1 billion to the lending plan.
IBM said it will offer simple, flexible lease and loan packages, some starting as low as 0 percent for 12 months with no money down, which businesses can use to immediately acquire the IBM technology and services they need to begin to transform their businesses, while managing their cash flow more effectively.
This financing will be made available to SMB clients through IBM Business Partners, who can benefit from enhanced online financing tools to generate price proposals and get approvals for credit applications for SMB.
IBM is also launching a comprehensive set of new solutions, which include workload optimized systems combining hardware and software and services offerings focused on technologies, such as cloud services, analytics, collaboration software and security, specifically designed to address SMB's key needs.
"IBM aims to help this segment by making these advanced technologies, once reserved for larger enterprises with large budgets, available to SMBs through IBM Business Partners at an affordable price," the company said.
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