Cisco introduces financing program for SMEs in Singapore

Cisco has recently introduced a new financing program aimed at assisting Small and Medium Enterprises (SMEs) in Singapore to acquire its products with ease. The program offers SMEs the opportunity to purchase hardware, software solutions, and services at 0% interest and with no upfront costs, through a fixed 3-year monthly payment term. This initiative comes in response to the challenges faced by SMEs due to the COVID-19 pandemic, which has disrupted supply chains and impacted business activities across various sectors.

SMEs play a crucial role in Singapore's economy, employing a significant portion of the workforce and contributing substantially to the country's economic output. Recognizing the importance of SMEs, the Singapore government has allocated significant funds to support businesses, with a focus on SMEs. As the economy gradually reopens post-lockdown, SMEs are looking to embrace technology to enhance their operations, explore new growth opportunities, and aid in the overall economic recovery.

The financing program by Cisco is designed to provide financial assistance to SMEs seeking to leverage technology for business acceleration in the digital era. By offering a 0% financing option, SMEs can access essential technological tools without straining their budgets. The program includes a 3-year full payout lease plan, enabling SMEs to own the equipment at the end of the contract period.

With SMEs facing operational challenges, Cisco's financing program aims to support cash flow management by providing predictable payments and eliminating upfront costs. This initiative underscores the importance of technology in revitalizing SME operations and driving economic growth. SMEs can now benefit from Cisco's financing program through Cisco Capital, the vendor financing arm of Cisco, which offers customer-centric payment options for Cisco-led solutions.

In conclusion, Cisco's new financing program for SMEs in Singapore reflects a commitment to supporting the sector's digital transformation and economic recovery post-COVID-19. By providing accessible and affordable technology solutions, Cisco aims to empower SMEs to navigate the current challenges and thrive in the evolving business landscape.