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Ingram Micro adds to growing credit availability

Ingram Micro has followed Tech Data's example and made more credit available to those pitching into the SME market

The decision to leave the EU might have sparked fears of a recession and already there are signs that investment is slowing but distributors are doing their best to keep the orders flowing.

Ingram Micro has followed in the footsteps of Tech Data and taken steps to ensure that more resellers can get access to credit to help unlock more SME spending.

The distributor has increased credit limits and extended terms for more than 1,500 SMB customers and made efforts to make using finance a much easier process for resellers.

The channel player is also on the brink of rolling out a loyalty programme where resellers will have the chance to gain further rewards from Ingram.

“By granting and extending credit terms to a large number of SMB customers, we are expressing our commitment to their sustained growth and continued success," said Tony McMurray, finance director at Ingram Micro U.K. & Ireland.

"We hope that this scheme combined with other newly launched initiatives demonstrates our willingness to work with our customers to achieve mutually beneficial results," he added.

Last week,Tech Data provided an update on its credit efforts revealing that there had been a response from the channel since it made an additional £150m of credit available in June.

The distributor reported that SMB sales had increased by 20% year-on-year in June and a large amount of that was down to the additional credit lines it had provided to more than 4,000 resellers. Frequent customers were given access to the extra funding options automatically.

As well as the small business sector there have been signs that the credit is being used by resellers to spur on sales in the education market in that sector's key summer sales period.

The channel will be keeping a keen eye on economic developments with warnings coming over the weekend that UK growth over the next couple of years is going to be lower than expected.

The EY Item Club, which specialises in economic forecasting, has warned that the growth for next year is not going to be anywhere near the 2.4% it had been predicting but GDP increases would now come in at 0.4%.

The same organisation is also warning that the value of the pound will continue to decline throughout the rest of this decade, which will mean some of the recent threats of price rises will become a feature of everyday life.

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