IBM expands finance options for SMBs

IBM pledges to fund $1 billion worth of loans to help small and medium sized businesses purchase IBM systems and services

IBM has pledged US$1 billion in financing to help small and mid-sized businesses (SMBs) procure certain IBM systems and services, the company announced Thursday.

"SMBs face difficulties in access to financing. They may not have the wherewithal to go get financing or credit, or they may not have time," said Ed Abrams, IBM vice president of mid-market business. "By making finance available to credit-worthy clients, we can help them fuel their business growth."

IBM is applying the loans to the purchase of 29 IBM systems and services overall, including offers for cloud services, big data and analytic systems. IBM Global Financing will handle the loan processing and paperwork. The financing incentives will be available over the next 18 months. Applicants can get approvals within 60 seconds.

The loan program is not a response to the current sluggish global economy, but rather proof that IBM is seriously pursuing the SMB market, Abrams said. The company has been boosting its marketing efforts in the SMB space over the past year, making available many technologies, such as Cognos and Netezza, that were marketed chiefly to larger organizations. U.S. SMBs will spend more than $49 billion on cloud services in 2015, according to IT analysis firm AMI Partners.

Abrams declined to discuss how large of a boost the $1 billion commitment will be over the current amount of loans IBM Global Finance manages, other than to say it is a "significant" addition.

IBM Credit LLC will provide the loans in the U.S., and various banks will provide the loans in other parts of the world. Typically, IBM Global Financing customers will repay the loans over 36 months, in either monthly or quarterly increments. The financial terms of the loans will vary according to the purchase. Loans can start with interest rates as low as 0 percent for 12 months, with no money down.

Joab Jackson covers enterprise software and general technology breaking news for The IDG News Service. Follow Joab on Twitter at @Joab_Jackson. Joab's e-mail address is Joab_Jackson@idg.com

Join the PC World newsletter!

Error: Please check your email address.

Tags budgeting and forecastingCash managementIBMbusiness management

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Joab Jackson

IDG News Service
Show Comments

Essentials

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?