Lenders say credit still available for tech spending

The financial panic on Wall Street and problems in the banking industry have sent shock waves through the credit markets, with experts worried that credit is drying up for businesses and consumers alike. But Channel Insider reports that the three big sources of technology credit believe there is no problem in their sector. Ingram Micro, Tech Data and IBM Global Financing said that their IT solution providers and IT consultants have as much access to credit as before the Wall Street meltdown and the subsequent battle in Congress to provide some relief.

"It's business as usual," an Ingram Micro spokeswoman told Channel Insider. A spokesman for IBM Global Financing said the current economic climate has been a real opportunity: "Because we are asset-based lenders that leverage the value of client technology or the inventory and account receivables of channel partners, we are becoming a bright spot for companies in search of funding."

Tech Data Director of Credit Scott Tillesen said  the credit woes that are being experienced in other industries haven't touched his firm either."The rates are exactly the same and the terms are exactly the same. We are offering more attractive terms in some cases," he said.
 
For more on credit available for IT:
- see this Channel Insider article