IBM Global Financing Adds $2B in Stimulus-Related Credit
Blackwell said that a number of IBMs financing options directly benefit channel partners. For example, credit engagements that originate through channel partners are paid in full directly to the partner once the customer signs off on the financial documents and the project is delivered. Customers may defer repayment to IBM for up to six months, and then make interest only payments for the following 12 months.(Page 2 of 2)
The partner receives the funds immediately when the customer signs the financial documents, Blackwell said. It greatly helps to fund the partners cash flow.
One channel partner that has consulted with IBM on its Dynamic Infrastructure program agreed that the availability of additional credit targeted at stimulus-related IT projects will help bump sales. We expect we will be using some of that money, especially for our larger accounts, said Bob Verola, president of Vicom Computer Services Inc., a Farmingdale, N.Y.-based solution provider.
Blackwell said that the additional $2 billion in available credit might be increased if IBM sees clear evidence that the funding has unlocked previously closed budgets. If the program works well, we could look at extending the number, she said.
An analyst following the financing market for market researcher International Data Corp. praised IBMs tying credit to stimulus-related IT projects. Mapping and applying their IT project financing skills to ARRA-related infrastructure projects will provide many of the same benefits IT buyers have enjoyed for yearsfaster time to market, funding flexibility and tailored repayment options, said Joseph Pucciarelli, director IDC Research, Technology Financing Strategies.