US-based computer company Dell has launched a $100m Dell Innovators Credit Fund.
Dell said angel and venture-backed companies would be able to access up to 10 percent of their funded amount, or up to $150,000, with accelerated, limited credit terms through Dell Financial Services.
There is also higher credit on a fast track basis, for those looking for it, Dell added.
Steve Felice, Dell president and chief commercial officer, said: "Behind most great company growth stories are pioneering uses of technology. In talking with business owners and listening to their needs, they tell us what they need most is access to capital and technology that enables them to grow. Dell’s new Credit Fund provides credit and access to technology to help fuel global growth and innovation while helping startups preserve precious equity capital for other business needs."
The Dell Innovators Credit Fund was created by Dell’s first Entrepreneur in Residence, Ingrid Vanderveldt. She was supported by Dell executives and a 13 member Dell Entrepreneur in Residence Advisory Board consisting of leading entrepreneurs, visionaries and innovators.
Vanderveldt said: "Words fail to describe how proud and excited I am to share with you today the announcement of what Dell is launching "The Dell Innovators Credit Fund" today – A $100M Commitment to Entrepreneurs and Startups. This is a huge win for all of us entrepreneurs and business owners out there – It’s one of the first times a Fortune 50 has leveraged its resources in such an authentic way to help those that want to start their own companies and find ways to leverage technology to help them grow their business."