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SMBs to get interest-free financing from Cisco to ensure connection to staff and customers

By Ken Wong - on 2 Jul 2020, 2:25pm

SMBs to get interest-free financing from Cisco to ensure connection to staff and customers

There are other financing schemes available. Image courtesy of Cisco

A new financing programme launched by Cisco is aimed at keeping SMBs in the region connected with zero percent interest, no upfront costs, and a fixed three-year monthly payment term.

SMBs who take up the programme will be able to purchase hardware, software solutions as well as services From Cisco.

The new financing option is now available to SMBs in Singapore, Malaysia, Philippines, Thailand and Vietnam, for purchases from US$20,000 to US$300,000 through Cisco Capital. At the end of 36-equal monthly payments, the business will fully own the equipment.

Regionally, SMBs form the backbone of the economies of most countries. In Singapore for example, they employ 65% of Singapore’s workforce and contribute nearly 50% of Singapore’s economic output. During this Covid-19 pandemic, the Singapore Government released a number of targeted budgets to stimulate sectors of the economy, like one with loan schemes offering S$4.5 billion to businesses, a large chunk of which went to SMBs.

With Circuit Breaker restrictions easing and the economy reopening, SMBs are looking to adopt technology to digitise their businesses to resume operations safely post COVID-19.

 

Enjoying financing options

Other vendors also have their own schemes to help customers this Covid-19 period. Image courtesy of HP

This programme from Cisco is aimed at providing financial support to SMBs that seek to equip themselves with the necessary tools and solutions to accelerate their business in the new digital era. But it isn’t the only vendor launched support programme launched for businesses during this period.

HP’s Integrated Financial Solutions group is offering a variety of financial and asset lifecycle options, including deferred/reduced payments until 2021, short term rentals and cash infusion for customer-owned HP devices through a sale-leaseback program. Customers can apply for a delayed payment structure or enrol in a PC rental program, available on equipment contracts for a period of 12 months. After 12 months, rental devices can be extended, purchased or returned for an upgrade.

Dell Technologies has introduced a zero percent interest rate for all of their server, storage and networking solutions, so no up-front payment is required. They are also offering short term options for remote work and learning with 6 to 12-month terms and refresh options for laptops and desktops. Customers can also defer their first payment for up to 180 days on data centre infrastructure and services to help manage cash flow.

Andy Lee, Managing Director for Cisco Singapore, said:

“The outbreak of COVID-19 has had a huge impact on SMBs across the country. However, the situation has also brought about a rapid shift in the mindset of SMBs as they are now more receptive to the idea of integrating technology in various aspects of their business and accelerate their digital transformation journey not just as a means of survival in the current environment but also for driving future growth. The financing programme will make it easier for local SMBs to start and continue their digital journeys.”