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IBM Flexible CreditFast, simple business credit you can use with over a hundred suppliers and distributors
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Offering description
- IBM Flexible Credit offers you a single line of credit that can be used with your choice of a growing list of authorized suppliers and distributors
- You can apply for fast, easy business credit, with credit lines ranging from $100K - $400K(Canadian), depending on credit rating
- No financial statements are required, and credit lines are incremental to any other financing you may have in place
- IBM Flexible Credit brings relief from the cash crunch, with the option to flex payments up to 60 days past an initial free (no-interest) period
- Once enrolled, you can manage all aspects of your account online
When it comes to acquiring inventory, every value-added reseller or systems integrator knows that a good line of credit is essential to keeping up with fluctuations in demand. But what if you're already limited by tight credit, or it's just not practical to establish a line of credit with every supplier or distributor that you want to do business with?
IBM Flexible Credit™, from IBM Global Financing, is a line of credit that isn't limited to IBM, or even to one supplier. With a growing number of authorized suppliers, distributors and manufacturers to choose from, you can use IBM Flexible Credit to acquire virtually any product you need to fulfill your customers' requirements.
You can submit a simple credit application, and, in most cases, you'll find out in 24 hours exactly how much credit you're eligible for. You can even qualify for IBM Flexible Credit if you currently have a credit line with one or more distributors or suppliers. There's no need to provide financial statements, and no minimum sales amount.
Once approved, you can use your credit line immediately! When you submit an order, just provide a supplier code with the order, and the supplier will automatically process the invoice and send it to IBM Global Financing. If the order is approved for financing we'll pay the supplier, and invoice you directly for payment.
Best of all, you decide how quickly you want to pay. If you pay the full invoice amount by the end of the free-financing period, there's no charge at all. But you can stretch your payments out as much as 60 days after the free-financing period (minimum monthly payments required). It's all up to you!
Benefits:
- As you tap into your credit line, there are no interest charges financing periods of 30, 45 or 60 days, depending on each Supplier's program
- You can pay back the principle at the end of the free period
- The Flex payment option is interest-bearing -- Charges are billed only for the number of days the extra time is used, after the no-interest period
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Eligibility requirements Financing is available to credit-qualified clients in Canada who are resellers in the IT equipment, software or services and consumer electronics. Clients must be in business a minimum of two years and have established relationships with suppliers that provide these industry products for resale.
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Apply for Flexible credit Just print the one page application and email back to fccanada@ca.ibm.com or fax to 845-489-9599.
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Terms & conditions Application requires either a loan agreement, or a loan agreement and a personal guarantee
- Application requires either a loan agreement, or a loan agreement and a personal guarantee
- IBM Flexible Credit is additive to any supplier's free-financing period
- Balance can be paid anytime during the extension period; a minimum payment of one-third of the balance is due each 30 days
- Interest will only accrue on the invoice amount you elect to extend, for the number of days you choose to extend the payment, and is calculated based on the average daily balance
- The balance can be paid anytime during the extended pay period, but a minimum payment of one-third of the balance is due at the end of the supplier's free financing period and each 30 days thereafter. There is an interest fee of 1.25% per month multiplied by the average daily balance of the unpaid principle you wish to extend
- In order to receive a prompt response to your credit application, please be sure to fill out all required fields, including the correct social insurance number of one of the company's principals. Failure to do so will result in your application being rejected. Completing the application does not necessarily mean you will be asked to provide a personal guaranty.
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