Cisco will offer $2.5B in financing through a new program to provide customers and partners access to technology platforms needed to ensure business continuity amid the COVID-19 pandemic.
The Business Resiliency Program will help clients manage their cash flow during the crisis by allowing them to defer 95 percent of the cost of a new Cisco hardware, software or service until January 2021, the company said Tuesday.
“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 company will implement the program through its venture financing business Cisco Capital, which also offers Cisco Refresh product portfolio to help partners and customers gain access to a wide range of platforms and discounts during the pandemic.
In March, Cisco pledged $225M in cash and in-kind support for global COVID-19 response efforts.