Tech Data Corporation has extended the upper end of its Credit Elevator scheme to a cool £1 million, making it easier for resellers to grow their sales quickly without having to re-apply for extended credit and provide additional guarantees.
The landmark announcement comes a decade after the company launched the first scheme of its kind in the UK. It sees a UK distributor offering to elevate credit lines on a month-to-month basis – or as and when the reseller needs them – to seven-figures for the first time. The scheme works by providing an initial £5000 credit line, which can be stepped up automatically providing the reseller using 75 percent of the line within the month and pays on 30-day terms. Resellers can extend the line every month or step up to the next level when their sales grow.
Nick Tiltman, Credit Services Director at Tech Data, said the company is launching the scheme because it sees a good opportunity to support resellers. “Our SMB sales growth has continued to gather pace and by extending the upper limit on the Credit Elevator we are making it easier for resellers to grow. It means that they don’t have to worry about securing higher and higher levels of credit – as new opportunities emerge they can take advantage, knowing that we will support them. We are removing barriers for customers who want to grow.”
The new £1 million figure is more than three times the amount previously-available. Tiltman said: “The Tech Data Credit Elevator was the original and the best and now, ten years after we pioneered this approach, we are setting the bar higher once again and demonstrating our determination to put the customer first by making it easy for them to take their business to new heights.”
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