Tuesday, March 24, 2020

Ingram Extends Credit, Financing To Partners Due To COVID-19 Impact

Irvine-based technology distributor Ingram Micro says it is looking to help the many U.S. and Canadian small and mid-size businesses (SMBs) it serves, who are facing a cash crunch due to the ongoing COVID-19 disease outbreak. According to Ingram Micro, it is extending $110M in addition credit to approximately 2,000 of its channel partners across North America; temporarily waiving fees associated with the majority of its partner financing program; and also offering up better payment terms to its partners. Those include a new "Future Funds" program interest only payments for six months and starting payments as low as 1.5% of the total purchase price. At month seven the customer is presented a choice to pay off the balance or finance for an additional 12 to 60 months.

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