IBM to Offer $4 Billion in Client Financing Through Partners
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International Business Machines Corp., the largest computer-services provider, is loaning $4 billion through business partners to encourage client spending, with terms including no interest for the first year.
To encourage lending, IBM developed an application for iPads and smartphones that will allow partners to approve their clients for contracts of as much as $500,000 in minutes, the company said today in a statement. IBM will administer the loans over the next 12 months through its global financing unit, which managed $36 billion in assets as of last year.