IBM to finance its software solutions interest free

IBM has announced that it will provide the small companies in India with interest free financing on its software products.

The businesses who qualify the credit policies of the company, can now acquire this interest-free financing in India via IBM Global Financing, the company’s lending and leasing organization.

Small and medium businesses(SMBs) in India employ about 60 mn people spread over 26 million enterprises, representing about 45% of the manufacturing output and around 40% of total exports of India.

''IBM is committed to India’s growth and this offer will help companies thrive in an increasingly competitive environment. By providing financial resources, small companies will be able to innovate and grow faster,'' said Sapan Jain, VP, IBM Global financin, India/South Asia, during the announcement.

According to the American Giant, the mid market companies in India, despite to there important contribution to the nation's economy do not get adequate support from banks and other financial institutions, which limits there access to capital and knowledge.

The minimum value of purchase for an SMB is Rs 2,25,000, to avail the interest free financing.