Industry Leader Provides VAR Partners Flexible Financing Options And Expanded Market Reach
LAS VEGAS, Nov. 12 /PRNewswire/ -- Ingram Micro Inc. (NYSE:IM)
, the largest global wholesale provider of technology products and supply chain management services, today announced three new lending services offered through Ingram Micro Financial Services -- IM-Preferred 45-Day Free Financing, IM-Preferred Revolving Credit and an additional lending source for IM-Preferred Leasing.
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Available immediately, the new financial services provide revolving credit lines above open account terms to all authorized resellers or extended 45-day free financing and revolving credit for Ingram Micro's value added reseller (VAR) community, including VentureTech Network, SMB Alliance and Partnership America. Ingram Micro's Financial Services has also forged a marketing alliance with Compaq Financial Services, a wholly owned subsidiary of Compaq Computer Corporation (NYSE:CPQ)
to bring its VAR customers more competitive lease rates and custom financing packages that will help alleviate budget constraints and encourage sales.
"Now, more than ever, VARs are looking to Ingram Micro to provide financial programs that will help them grow their business while effectively managing their fixed costs," said Bob Stegner, vice president channel development, Ingram Micro U.S. "Our new suite of financial services provide Ingram Micro's VARs with a wide array of financing options that allow for greater sales of total solutions to the enterprise, small- to mid-sized business (SMB) and government and education markets."
New 45-day Financing Frees Capital to Help VARs Grow Business
Addressing the needs of the IT channel, IM-Preferred 45-Day Free Financing allows VentureTech Network, SMB Alliance and Partnership America customers the ability to effectively manage their cash flow. Similar to a same as cash program, this new financing service benefits resellers by providing them with needed capital and extended payment terms to grow their business.
Revolving Credit Allows VARs to Buy Now, Pay Later
Available now, IM-Preferred Revolving Credit provides resellers with 30 days of free, unsecured inventory financing up to $100,000, allowing increased flexibility of repayment in order to meet non-inventory obligations such as payroll, taxes and rent. Additionally, the new program of revolving flexibility, offers resellers a greater opportunity to establish repayment on their own terms with minimal up-front costs due after 30 days.
"Credit availability is tight in today's economy," said Lino Martin, vice president, North America treasurer, Ingram Micro Inc. "Through a single point of contact at Ingram Micro, we are helping to ease cash flow and credit availability burdens for businesses by presenting broad and flexible programs from the best lenders in the financial market."
Compaq Financial Services Joins Ingram Micro Preferred Leasing
Today, Ingram Micro also added Compaq Financial Services as a new lending source to its IM-Preferred Leasing service. With the addition of Compaq Financial Services, Ingram Micro's Financial Services group can provide technology solution providers low lease rates and custom financing packages. The packages enable them to offer attractive financing on Compaq equipment to commercial businesses and government and educational institutions.
"Our new alliance with Ingram Micro extends Compaq Financial Services' commitment to resellers," said Irv Rothman, President and CEO of Compaq Financial Services. "We look forward to working with Ingram Micro to provide its resellers with Compaq Financial Services programs and offers that can help close larger and more profitable transactions."
To kick off the new program, Compaq Financial Services is offering a four-month lease payment waiver program for all Compaq product solutions and their associated CarePaqs. In fact, Compaq pays for the first four months of the lease terms, followed by 20, 32 or 44 monthly payments by the customer. This deferred leasing plan allows Ingram Micro's reseller community the ability to immediately provide Compaq products to their customers. As a result, customers can defer payment until next year, which can eliminate fourth quarter budget restraints.
IM-Preferred Leasing offers a wide range of leasing options that provide resellers with solutions based on a payment, rather than price-based, structure. In addition, the company offers financial services through Ingram Micro Financial Services including purchase order financing, quick credit, credit and collection outsourcing, receivable financing, flooring/asset-based lending and merchant credit card processing.
About Ingram Micro Inc.
Ingram Micro Inc. is the largest global wholesale provider of technology products and supply chain management services. The company operates in 36 countries with sales of $30.7 billion for the fiscal year 2000. Ingram Micro's global regions provide the distribution of technology products and services, marketing development and supply chain management services to more than 175,000 technology solution providers and 1,700 manufacturers. The company is focused on maximizing shareowner value and achieving customer satisfaction through innovation in the IT supply chain. Visit http://www.ingrammicro.com/corp .
Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc. All other trademarks are the property of their respective companies.
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Source: Ingram Micro Inc.
Contact: Marie Meoli, ext. 229, marie_meoli@benjamingroup.com, or Lisa
Falcetti, ext. 234, lisa_falcetti@benjamingroup.com, both of Benjamin Group,
+1-949-260-1300, for Ingram Micro Inc.; or Brett Hunt of Ingram Micro Inc.,
+1-714-382-1403, brett.hunt@ingrammicro.com
Website: http://www.ingrammicro.com/corp