• 3-yearfinancing programme for Small and Medium Enterprises (SMEs) on all Ciscoproducts including software, hardware and services
• 0%interest with no upfront costs and fixed monthly payments for purchases fromUSD20,000 to USD300,000
• Nowavailable to SMEs in Singapore, Malaysia, Philippines, Thailand andVietnam 

SINGAPORE - Media OutReach- 3 July 2020 - Cisco has launched a new financing programme to help SMEs purchaseits products at 0% interest and with no upfront costs, at a fixed 3-yearmonthly payment term. SMEs will be able to purchase hardware, softwaresolutions as well as services under the programme. 

The launch of the programme comes as the COVID-19 pandemic and ensuing lockdownsacross the region to control its spread, have disrupted supply chains anddecreased business activities. The nature of SMEs means that they likely have asmaller pool of capital reserves. This coupled declining revenues has put astrain on cash flows of many SMEs, especially in sectors such as retail,construction, hospitality, and food and beverage -- most of which have relativelyhigh supply costs.

SMEs are critical to Singapore's trade and commercial landscape. They employ65% of Singapore's workforce and contribute nearly 50% of Singapore's economic output. The Singapore government has responded swiftly with assisted loanschemes offering S$4.5 billion to businesses, a large chunk of which has goneto SMEs.

As the government starts to ease the Circuit Breaker restrictions andreopen the economy, SMEs are looking to adopt technology and digitize theirbusiness to resume operations safely, open new growth opportunities andcontribute to the overall economic recovery post COVID-19. The new programmefrom Cisco is aimed at providing financial support to SMEs that seek to equipthemselves with the necessary tools and solutions to accelerate their businessin the new digital era.

"The outbreak of COVID-19 has had a huge impact on SMEs across thecountry. However, the situation has also brought about a rapid shift in mindsetof SMEs as they are now more receptive to the idea of integrating technology invarious aspects of their business and accelerate their digital transformationjourney not just as a means of survival in the current environment but also fordriving future growth. The financing programme will make it easier for local SMEsto start and continue their digital journeys. The world is going through anuncertain economic period and at Cisco, we are committed to doing our part tohelp lighten the burden for Singapore's SMEs," said Andy Lee, ManagingDirector, for Cisco Singapore.

"Ensuring that SMEs are able to leverage technology to continue tosustain and grow their business is critical for the overall economy, not leastbecause the sector accounts for more than two-thirds of all jobs in Singapore.If businesses in the sector grow, they will continue to protect and even createjobs and add to Singapore's economic recovery post COVID-19," he added.

The 0%financing programme will provide SMEs access to necessary technologicalenablers from Cisco that include software, hardware and services withoutbreaking their budget. SME's will enjoy a 3-year, full payout lease plan wherethey pay equal 36-month payments on their Cisco purchases that costs betweenUSD20,000 to USD300,000. and will fully own the equipment at the end ofcontract period.

"Cisco's financing program offers built-in capabilities to ensuresuccessful cash flow management for SMEs. Businesses can secure the technologythey need to run their business with regular, predictable payments and 0% interestrate. They can also eliminate upfront costs, preserving their financialresources for other business priorities," said Raz Mohamad, Director SmallBusiness and Commercial for ASEAN at Cisco.

"SMEs are the backbone of ASEAN economies,accounting for over 85% of total business establishments and making up the maincontributions to private sector employment in the region. However, they arecurrently facing the biggest challenges to their operations. Technology canhelp solve some of their key challenges and revitalize their operations. It ismore important than ever for partners like Cisco to provide the much-neededassistance, not just through our solutions and expertise but also throughprogrammes that can help alleviate financial concerns," he added. 

The newfinancing option is now available for any SME's through Cisco Capital, thevendor financing business within Cisco that delivers customer-centric,partner-enabled payment options for Cisco-led solutions. For more informationon the programme, visit www.cisco.com/c/en_my/buy/payment-solutions/solutions/small-business

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