Cisco Launches USD 2.5 Billion Financing Program to defer Customer Payments to 2021 | Financial Buzz

Cisco Launches USD 2.5 Billion Financing Program to defer Customer Payments to 2021

Cisco has launched a new payment program to allow customers and partners access technology to support business continuity.  This includes investing for recovery, deferring 95% of cost until January 2021. 

Cisco Systems, Inc. (NASDAQ: CSCO) is helping customers and partners manage the rising issues in the economy with the introduction of a new business resiliency program.  Through Cisco Capital, the company offers partners and customers with a way to mitigate the rising challenges from the COVID-19 pandemic.  Organizations will have access to financing and solutions to help keep businesses afloat as well as keep their employees safe and support communities.

“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 concern for all businesses as the impact of the coronavirus has worsened.  “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.”  “This is a valuable offering by Cisco” said Will Townsend, Senior Analyst, Networking Infrastructure, Moor Insights and Strategy. “Through my countless discussions with organizations, balancing cash flow while maintaining robust network operations is critical given the impact of COVID-19. I continue to be impressed with Cisco’s proactive strategy to enable its customers, partners, employees and the community overall to maintain productivity in these trying times. The Business Resiliency Program is another example of the company’s overall effort.”