With access to capital among their biggest challenges, cash-strapped small businesses got some good news today from AT&T*. Through its financing subsidiary, AT&T Capital Services, the company is now providing loans to small businesses looking to deploy new wireless solutions or upgrade existing ones.
Cathy Martine, AT&T Executive Vice President – Small Business Solutions, AT&T Business Solutions, made the announcement during her keynote speech at the annual Women Impacting Public Policy Conference in Washington DC this morning.
Until recently, AT&T Capital Services financing had focused on traditional wired communications solutions, including office phone systems and equipment, high speed Internet, maintenance and associated software.
"With more than 25 years experience in communications financing, we know the challenges that small businesses face and understand that today, perhaps more than ever before, access to capital is critical to sustaining their operations," Martine said. "Our goal is to provide small businesses with access to new options for funding game-changing wireless solutions, to help them innovate and grow and, ultimately, to serve as a catalyst to jumpstart this critical engine for U.S. economic recovery."
Since recently introducing wireless solutions financing, AT&T Capital Services has closed loans totaling several hundred thousand dollars, with deals totaling several million dollars in the pipeline. The organization finances transactions as small as $1,000 in support of organizations purchasing AT&T business solutions.
AT&T Capital Services was established in 1984 to finance business customer purchases of AT&T products and services by converting one-time, upfront costs into monthly payments.
To date, the organization has recorded more than $6 billion in contract originations for more than 5,000 commercial and municipal customers. Benefits of AT&T financing include:
* Minimal capital outlay – allows customers to avoid down payments and make easy monthly payments that fit their budgets
* Lifecycle management – minimizes risk of technological obsolescence
* Packaged solution – offers one-stop shopping and a simple contracting process
* Reliability –AT&T Capital Services does not sell its loans, holding and servicing them for their entire term
* Alternate source of credit to preserve bank credit line
* Competitive rates
"In recent months, we've made loans to small businesses to meet a variety of needs," said Anthony Lewis, President of AT&T Capital Services, "ranging from smartphones and other mobile devices equipped with fleet management or GPS tracking applications to the rollout of netbooks and laptops embedded with mobile broadband and Wi-Fi capabilities. Bottom line, AT&T is in a position to meet the communications needs of small businesses that are challenged by tight budgets."
Small businesses interested in finding out more about opportunities afforded by AT&T Capital Services, should contact their authorized AT&T Sales representative. If they don't have an authorized AT&T representative, they can call 866-323-6955.
Small businesses looking to find information about other AT&T products and services can visit the AT&T Small Business page. For free business resources such as webinars, white papers, training, case studies and best practices, they can visit www.att.com/smallbusinessinsite.
Additionally, real-time information can be found on the AT&T Small Business Facebook page and AT&T Small Business Twitter channel.
*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.