Equanet, the Dixons Retail-owned provider of IT solutions to business, has announced that CIT Global Vendor Finance has become its preferred partner for all business and educational leasing arrangements. The partnership will offer value propositions, including financing, to every sector of Equanet’s existing and new customer base.

Equanet will utilize CIT’s extensive experience across Europe working with multinational IT vendors and offering finance solutions to support their business growth. CIT will support Equanet by offering finance solutions for their customers, ensuring that more companies are able to meet their equipment and business requirements.

“Times have never been harder for business in the UK and in the current economic climate it is often difficult to invest in critical technology. Banks haven’t met their lending targets to SMEs yet companies need to free up cash flow and maximize their IT budgets. This partnership will offer vital financial solutions to these SMEs, ensuring that they meet their business needs today,” said Phil Birbec, managing director, DSGI Business.

Equanet and CIT will offer finance solutions to UK businesses that will include 0% leasing options on all of Equanet’s vendor partners for hardware purchases over £1,000.

Rich Green, managing director for CIT Vendor Finance, Europe, said “We are very excited to be partnered with Equanet. This is a perfect opportunity to incorporate greater leasing solutions into Equanet’s already extensive IT services and for both companies to develop and create relationships with UK SMEs and the private sector. CIT has experience providing financing to over half a million SMEs so we understand that our leasing agreements are a vital option for companies who demand cutting edge and competitive technology.”