Florida-Based Technology Reseller PC Universe Partners With IBM Global Financing to Meet Growth Objectives
PC Universe, Inc. (PINKSHEETS: PCUV), a direct marketer and value-added reseller (“VAR”) of information technology products and services, today announced a new financing partnership with IBM Global Financing (IGF), the technology lending and leasing business segment of IBM (NYSE: IBM).
Under the agreement, IGF will establish a $4 million revolving line of credit that will give PC Universe the opportunity to deliver on its long term goals for growth and expansion. The agreement would also give the company the financial flexibility to execute along its strategic plan. The revolving line of credit will be leveraged for account receivables and inventory financing.
“We are excited to be partnering with IBM, which is providing us with increased flexibility, a better interest rate and other non-financial terms,” said Michael Labinski, CFO of PC Universe, Inc.
Revolving line of credit offerings are today quite popular with VARs looking to balance their day-to-day cost structures while aligning their cash flow. For over 25 years, IGF has been providing customers with solutions that allow resellers the opportunity to enhance their cash conversion cycle, finance inventory purchases from their suppliers and obtain the working capital they need through borrowing against available collateral, such as account receivables and inventory.
“Technology resellers like PC Universe have realized that financing can play a very important role in achieving greater success in the marketplace,” said Rob Flood, director, IGF Commercial Financing, Americas. “In a dynamic and largely margin-driven business, resellers must ensure that their balance sheets are solid. IGF is excited to be partnering with PC Universe as they make significant growth oriented moves in their own business.”
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