September 3, 2004

Need Technology? Have few $$$? See IBM.

When you need to buy new technology and/or refresh old technology what do you do?

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Buying new computers, printers and software can be expensive and hard on your cash flow. Maybe you have the money, but due to your cash flow you don't want to plunk down $50,000 at once.

Recognizing this need IBM announced significant enhancements to small and medium business (SMB) financing designed to simplify and speed the process of obtaining, proposing, closing and funding financing deals. In most cases, a financing contract with approval and documentation will be provided in one hour.

With these changes, IBM Global Financing (IGF) and IBM Business Partners will improve their ability to quickly deliver easy to understand IT financing solutions to clients, said Chris Townsend, vice president, Worldwide, Small and Medium Business Financing, IGF.

The changes include a simplified rate structure, firm rates with pass/fail credit approval, competitive, simple terms and conditions, streamlined administration and reduced paperwork on deals under $100,000. In addition, after approval the amount to be financed may increase by up to 15 percent without requiring additional approval or paperwork.

A new offline proposal tool provides Business Partners with even greater support for creating and closing financing proposals for their clients. And, combined with new streamlined Global Financing administration, a completed financing contract can often be provided within one hour of the request.

By incorporating IBM financing as part of their complete solution to a client, and accelerating the entire process with faster turnaround and quicker approvals, business Partners can close business faster and help ensure client satisfaction.

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