Apple Launches Two New Business Financing Options

by , 11:30 AM EDT, September 9th, 2003

Apple has rolled out two more initiatives aimed at the business sector. The first is called Technology Financing, a program that offers businesses far more reasonable terms than Apple's consumer financing program. The rate being offered by the new program is "as low as" as the Prime rate (which is currently 4.25%), plus 4% which would mean that businesses can currently get financing for as low as 8.25%. Make sure you read the fine print, as well. From Apple:

The Apple Credit Account for Business - a financial tool for smart business owners.

The Apple Credit Account for Business is established in your company's name. An owner or principal is required to be a co-applicant on the account and will be personally liable to repay all amounts owed on the account. However, this account does assist your business in establishing a good credit history and frees up your other lines of capital.

You can find more information on this at the Apple Store for Business Hot Deals page. Look for the link labeled "Technology Financing."

The second initiative from Apple is called simply "Commercial Credit." This is basically a new leasing offer from Apple designed to make obtaining new Macs for your business less risky.

Apple Financial Services Commercial Credit is your single source solution for businesses to easily acquire the latest IT equipment. Our program's full spectrum of resources combines a complete range of innovative products with the most experienced, knowledgeable professionals in the finance industry. Our solutions-oriented approach is driven by our desire to exceed the expectations of our customers.

Our solutions enable you to:

Get control of changing technology
The IT System you purchase today has about a two to three-year useful life. Plus, its value will be a fraction of its present value three years from now. As a result, you need strategies that not only make financial sense, but also provide the flexibility to manage the rapidly evolving technological environment.

You can also find more information on Commercial Credit at the Apple Store for Business Hot Deals page.

The Mac Observer Spin:

Zoinks! Both of these programs seem link no-brainers in retrospect, but what they point out is that Apple has effectively not been even remotely competitive in the financing department when it comes to businesses. This is an issue that is of paramount importance to many businesses, and has almost undoubtedly been the deciding factor in many billions of dollars of corporate PC purchases over the years. We haven't yet researched this, so we don't know if Apple's new offerings are truly competitive with the likes of Dell, HP, and IBM, but we have a good feeling about it.

Of course, it remains to be seen if Apple can leverage these financial services into actual sales, but as we have consistently pointed out, the company is slowly putting into place the many, many new services and options that its corporate, enterprise, and government sales forces need in order get those markets to take the company seriously. Financing, as backwards as that may seem, is most likely the most important of those tools. Yes, you have to have a product that someone will want, which Apple most certainly does today, but if Finance doesn't want to pay for it, good luck selling it to the IT department.

Those who wrote Apple out of the business market long ago may end up needing to do a rewrite. Things are definitely changing.