The latest addition in a channel partner’s head ache along with filthy competition, unethical e-sale, under-cutting, there is a latest entry in the same. Many partners were screaming in social media that IT products were shown doors while applied for a bank loan.
Saddest part is some nationalized banks too are not thrilled by the proposals to IT business. Most of the channel partners moan on the reason quoted by the banks- IT products are diminishing and added in not-so-performing sector. The channel also has been given irrelevant responses only for not to provide any financial assistance for the dealers.
However, the issue is different with the private financial sector. The private finance agencies are not rejecting the desired finance requests. However, the interest rates are sky-high which a channel partner cannot afford with the current market conditions. The other face of the challenge from the private sectors is no proper guidelines for providing the financial loans. A leading finance agency which approves loan in one city for an IT dealer is rejecting the same product 30 kilo meter away from the former.
There are still some associations manage to get finance companies sponsor for their regular events. This is a positive sign and shows there is still hope for the channel industry to grab sponsorships from the private finance companies. The IT associations across the country should start immediate focus on this issue with uttermost priority. The newly-formed teams across the states and districts associations should start interacting with the private finance agencies or banks and ink for partnership.