Cisco Capital Provides $2.5B in Financing to Support Business Resiliency
APR 15, 2020 - 6:40 am
Cisco Capital is offering a new Business Resiliency Program designed to help mitigate financial challenges resulting from the COVID-19 pandemic. This program includes $2.5 billion in financing to provide organizations with access to the solutions they need to keep their businesses running and productive, their employees safe and their communities supported.
“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.”
Cash flow is a top concern for Cisco customers and partners in the current environment. The new Business Resiliency Program includes an up-front 90-day payment holiday and allows a customer to defer 95% of the cost of a new product or solution until January 2021. 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. It will accelerate their sales cycles and allow partners to offer their customers payment solutions to better manage their cash flow.
“Cisco Capital’s goal is to make it easier for customers and partners to acquire the technology they need to keep their businesses running and productive. Their success is our priority,” said Kristine A. Snow, SVP and president, Cisco Capital. “The new Business Resiliency Program is designed with this in mind and will help address some of our customer’s most pressing concerns.”
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!
Many equipment finance companies are striving to promote more diverse talent to leadership positions. To help with that effort, Monitor sat down with David Miles, vice president and director of credit at Eastern Funding, who shares his experience ascending the... read more