Cisco unveils 0% interest financing programme

The programme is said to provide SMEs access to technological enablers.

Cisco has launched a new financing programme to help small and medium enterprises (SME) purchase its products at 0% interest and with no upfront costs, at a fixed three-year monthly payment term, according to a press release.

The programme is said to provide SMEs access to necessary technological enablers from Cisco, which include software, hardware and services with a three-year, full payout lease plan where they pay equal 36-month payments on purchases that costs between $27,868 to $418,029 (US$20,000 to US$300,000). SMEs will fully own the equipment at the end of the contract period.

The launch comes as the pandemic and lockdowns across the region have disrupted supply chains and decreased business activities which has put a strain on the cash flows of many SMEs, especially in sectors such as retail, construction, hospitality, and food and beverage.

According to Cisco, SMEs employ 65% of Singapore’s workforce and contribute nearly 50% of Singapore’s economic output. As the government starts to ease restrictions and reopen the economy, SMEs are now looking to adopt technology and digitize their business.

The new programme is aimed at providing financial support to SMEs that seek to equip themselves with the necessary tools and solutions to accelerate their business in the new digital era.

Cisco’s small business and commercial director for ASEAN Raz Mohamad notes that the program will help businesses eliminate upfront costs, preserving their financial resources for other business priorities.

The new financing option is now available for any SMEs through Cisco Capital, the vendor financing business within Cisco that delivers customer-centric, partner-enabled payment options for Cisco-led solutions.