Cisco is launching a Business Resiliency Program that offers $2.5 billion in financing support to customers. The program aims to provide cash flow flexibility to customers as they respond to the COVID-19 crisis.
“Cisco’s customers and partners are under enormous pressure to keep their businesses connected while remaining productive and secure,” said Chuck Robbins, Chairman and CEO of Cisco. “Whether it’s technology, financing or helping those most in need, Cisco is committed to working together to fight this pandemic on every front.”
The new Business Resiliency Program offered by Cisco Capital includes an up-front 90-day payment holiday and allows a customer to defer 95 percent of the cost of a new product or solution until 2021, which in turn protects their business and increases their existing cash flow. Starting in January 2021, customers would then make a monthly payment based on the total financed amount and the remaining term of the financing. All Cisco solutions are eligible for this program, including hardware, software and services as well as up to five percent of partner provided services, such as installation.
The program also offers support to Cisco’s 60,000 partner ecosystem. The Business Resiliency Program will help partners provide an additional solution to better serve customers, without any change to their own financial situation, in this challenging business environment. It will accelerate their sales cycles and allow partners to offer their customers payment solutions to better manage their cash flow.
https://newsroom.cisco.com/press-release-content?type=webcontent&articleId=2069370
