Ingram Micro announced two financial services offerings — 90-Days Same as Cash and the Bakers Dozen — for channel partners in the U.S. and Canada.
Ingram Micro’s 90-Day Same as Cash makes it easy for channel partners to offer customers the flexibility to lease or pay cash for new technology purchasing after 90 days.
Ingram Micro is adding more time to terms with its Bakers Dozen, which extends a typical 12-month financing deal to 13 payments at no additional charge. Details for both new offers can be found here.
Ingram Micro has also lowered the financing terms for its new Future Funds program from 1.5 percent to 1 percent of the total purchase price. Introduced last month, Ingram Micro’s Future Funds program offers interest only payments for six months and then at month seven presents the customer with a choice to pay off the balance or finance the balance for an additional 12 to 60 months.
The new Ingram Micro services come at a time when channel partners and their customers need more affordable and flexible financing.
The average solution provider has less than three months’ cash reserve to cover operating expenses and cash flow gaps, and one-third of solution providers report having less than two months of cash on hand, according to a recent channel survey from The 2112 Group.
Since announcing the new services in March 2020, and extending more than $110 million in additional credit to channel partners, Ingram Micro has seen a spike in demand for its financial services—reporting record adoption rates within its two partner communities SMB Alliance and Trust X Alliance.
Additionally, Ingram Micro is seeing an increase in usage among its mainstream partner base, as well as more inbound interest from channel partners who have never used Ingram Micro Financial Solutions.
“In today’s uncertain times, every effort—big or small—that helps move business forward and keeps people connected and working safely and securely counts,” says Kirk Robinson, senior vice president and U.S. Chief Country Executive, Ingram Micro.
Additional Ingram Micro financing solutions available to channel partners include Direct Express, Technology as a Service, End-user Financing, Manufacturer Financing, Lockbox Solutions.