Holocom Networks (San Diego, CA) has announced the launch of a unique credit assistance program entitled Holocom Financial. This program marks the first time that a multi-million dollar credit facility has been established to allow customers to finance or lease an entire connectivity system, including labor costs.
Holocom's customers have the option of financing infrastructure products, active components, labor costs, and any other cost involved in building the complete connectivity system that meets the customers needs. Products available through Holocom enable a network to be reusable and thus compliant with federal requirements for financing. In addition to the financing option, customers are given both a capital-leasing and an operating-leasing option.
In an online system, customers can apply for financing at the click of a button. Program operation requires a customer to access the Web site for Holocom Financial, available through www.holocomnetworks.com. Once the customer completes the application process, information is then sent to an outside financial institution, with which Holocom has contracted to provide services and create the program. Notification or credit approval is then delivered within 24 hours for amounts of up to $100,000, and 48 hours for greater amounts.
G. Bradford Saunders, Holocom's president and chief operating officer, notes that Holocom Financial now enables the connectivity system to be a true operating expense, easing the immediate cash impact felt by many customers and preventing financial officers from having to defer the system's cost. He adds that the program "opens the door for all businesses to significantly leverage their communications budgets, reserving vital capital for other corporate needs."
-Michelle Abrams