Will lend out $4 billion to small and medium business to boost growth

IBM pledges to fund small businesses

IBM will make $4 billion available to small and medium businesses in a bid to form new relationships and help companies adopt its technologies.

According to the Business Insider, the move is part of a long-term strategy to push adoption of cloud computing and data analytics among smaller businesses. The technology is apparently within the reach of the SMB market, it just requires a little help.

“This program actually builds off of something we started last year where we put a billion dollars in financing into the market for small and medium businesses," commented IBM’s vice president of global business partners and midmarket, Ed Abrams.

“We expected that funding to last us about 18 months. We actually burned through it in a little less than a year with almost 7000 businesses taking advantage of that funding to implement new technology solutions.”

The move has also apparently been spurred by a feeling that corporations have a responsibility to help grow the economy.

“I think it’s important for enterprises of all size to help drive economic growth, and that’s part of IBM’s strategy as well is we recognize that for all of us to succeed whether it’s a large business or a small business, if we can help them to become a growth engine to grow their own business, it’s going to benefit the larger ecosystem in which we all exist and do business,” said Abrams.

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