Ingram Micro plans to raise the credit limits of 680 solution providers by more than a combined $8 million after receiving reports from credit analysts and studies developed by its own Business Intelligence Center, according to the distributor.
The credit increases are reserved for solution providers serving the SMB market, consumer electronics retailers and managed service providers, according to Santa Ana, Calif.-based Ingram Micro.
The solution providers were identified using Ingram Micro's business intelligence capabilities along with input from its credit analysts and sales team, said Jamie Ferullo, Ingram Micro's director of U.S. sales.
"Gaining access to working capital is a challenge for many channel partners -- especially those who are focused on meeting the business technology needs of today's growing SMBs," Ferullo said in a statement. "By identifying high-potential partners and extending them greater credit limits, we're helping to remove one of the biggest barriers to earning new and incremental business, and further enabling their success."
Distributors routinely examine their customers' credit lines to identify partners with which they might generate more business through increased credit. Earlier this year, D&H Distributing and SED International were among other companies to add more credit to solution providers.
Brian Hogan, president of New England Systems and Software, a Lake George, N.Y.-based solution provider, said the increased credit helped finance a large project that was then rolled out in a short period of time.
"The increased credit line and short approval time allowed us to meet our schedule and come in on budget," Hogan said in a statement.
PUBLISHED AUG. 28, 2012