Cisco Commits $2.5B in Financing to Sales Amid Pandemic

Cisco has rolled out a new financing program designed to help mitigate financial challenges resulting from the Covid-19 pandemic. The initiative, marketed as the “Business Resiliency Program,” includes $2.5 billion in financing to help provide sales stimulus during this economically uncertain time.

“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.”

Administered through Cisco Capital, the new program 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.

In addition, Cisco Refresh, the company’s certified remanufactured product portfolio, will offer a wider range of products and further discounts and promotions. These solutions are also eligible for the Business Resiliency Program where 95 percent of the cost can be deferred until 2021.

Channel Impact^®
The program promises to help partners stimulate increased sales during budgetary uncertainty brought about by the pandemic. It will accelerate their sales cycles and allow partners to offer their customers payment solutions to better manage their cash flow.