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IBM, Heller Financial Introduce SuccessLease To HK SMEs

SINGAPORE -- IBM Global Financing, an IT financier, has teamed with Heller Financial, Inc. to introduce a Web-based IT solution financing program for small businesses in Hong Kong.

The SuccessLease program enables small businesses to finance - in minutes - up to HK$500,000 (US$64,000) in IBM and non-IBM hardware, software and services. These businesses can also take advantage of attractive lease rates and quick credit decisions, which are all executed online. East Asia Heller Limited will provide financing and administration of the program in Hong Kong.

"We are delighted to enter into a strategic relationship with the world's largest IT financier," said Anthony Cheng, managing director of Heller Financial in the Asia Pacific region. "With SuccessLease, IBM customers in key international markets will have quick, easy access to the lease financing they need to fund their IT growth."

Through a global alliance with Heller, SuccessLease is now available in Canada, France, Germany, Italy, Hong Kong, Singapore and the U.S. and U.K. It has been available in North America since early 1999.

There are plans to introduce the program to other countries in Europe and Asia through the IBM/Heller alliance, officials said.

Said Cordelia Chung, general manager of IBM China/Hong Kong Ltd. "IT financing is a critical tool that enables small businesses to acquire the IT solutions they need to remain competitive, grow and implement new e-business applications, while preserving their other sources of cash.

"IBM Global Financing recognizes that the traditional financing application process can be lengthy for these smaller companies, and SuccessLease changes this by providing easier, rapid credit approval over the Internet."

She added that as SuccessLease is offered both directly from IBM and through IBM Business Partners, ISVs can provide their customers with instant quotes and automated credit scoring to speed up the credit application process.