Zero per cent financing programme launched to support SMEs

Tuesday, Aug 25, 2020 14:33

SMEs are looking to adopt technology and digitise their business to open new growth opportunities post COVID-19. — Photo

Cisco is delivering on its promise to support small-and-medium enterprises (SMEs) customers by launching a new financing programme that will allow customers to purchase Cisco products at zero per cent interest and with no upfront costs, at a fixed 3-year monthly payment term.

The programme which was launched on Monday is available for SMEs in Singapore, Malaysia, the Philippines, Thailand and Viet Nam.

As governments start to ease some of these restrictions and reopen the economies, SMEs are looking to adopt technology and digitise their business to open new growth opportunities and contribute to the overall economic recovery post COVID-19.

“The outbreak of COVID-19 has had a huge impact on SMEs across the country. However, the situation has also brought about a rapid shift in the mindset of SMEs as they are now more receptive to the idea of integrating technology in various aspects of their business and accelerate their digital transformation journey not as a means of survival in the current environment but also for driving future growth. The financing programme will make it easier for local SMEs to start on that journey.

The world is going through an uncertain economic period and at Cisco, we are committed to doing our part to help lighten the burden for Vietnamese SMEs,” added Luong Thi Le Thuy, Managing Director, for Cisco Vietnam.

The zero per cent financing programme will provide SMEs access to necessary technological enablers from Cisco that include software, hardware and services without breaking their budget. Customers will enjoy a 3-year, full payout lease plan where they pay equal 36-month payments on their Cisco purchases that costs between US$20,000 to $300,000. Customers will fully own the equipment at the end of the contract period.

“SMEs are the backbone of ASEAN economies, accounting for over 85 per cent of total business establishments and making up the main contributions to private sector employment in the region. However, they are currently facing the biggest challenges to their operations. Technology can help solve some of their key issues and revitalise their operations,” said Raz Mohamad, Director Small Business and Commercial for ASEAN at Cisco. — VNS

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