San Jose, California-based global enterprise networking solutions provider Cisco has launched a $2.5 billion financial relief programme for its customers and partners to help mitigate the economic challenges of Covid-19.
The Business Resiliency Program, offered through the company’s vendor financing platform Cisco Capital, includes a 90-day payment holiday and allows customers to defer 95% of payments for a new product until 2021, the company said in a statement.
All Cisco solutions, including hardware, software and services, and upto 5% of partner-provided services, such installation, are included in the programme, it said.
Customers can begin monthly payments from January next year, and the amount will be calculated based on the total financed amount and the remaining term of the financing, the company added.
Additionally, the company has set up the Cisco Refresh programme to sell pre-owned products at discounted rates.
It also provides free access to Webex, its cloud team collaboration platform, it added.
Cisco also recently committed $225 million to provide technology and financial support to nonprofits, first responders and governments to fight Covid-19, the company said.