KUALA LUMPUR – Cisco has launched a new financing programme to help small and medium enterprises (SMEs) in Malaysia purchase its products at 0% interest, with no upfront costs, and at a fixed 3-year monthly payment term. The offer extends to all Cisco’s products portfolio including software, hardware, and services.
The launch of the programme comes as Malaysia eases its COVID-19 measures and reopens the economy which will see various economic sectors resuming their operations under the Recovery Movement Control Order (RMCO).
However, the prolonged disruption to supply chains and decreased business activities in the country have seen many SMEs – which makes up for 98.5% of total registered businesses and around 65% of the country’s employment — struggle to maintain their operation in the aftermath of the pandemic.
As a significant growth engine for Malaysia, SMEs contributed 38.3% to Malaysia’s overall GDP in 2019. To help businesses mitigate the pandemic impact, the Malaysian government has in the past four months announced various stimulus under the Prihatin Rakyat Economic Stimulus Package (PRIHATIN) and the National Economic Recovery Plan (PENJANA). This includes offering SMEs moratorium on loans, special relief funds and wage subsidy to all employers.
At the same time, SMEs are now more than ever looking to technology to digitize their business and resume operations in compliance with the set guidelines, open new growth opportunities and contribute to the overall economic recovery. The new programme from Cisco is aimed at providing financial support to SMEs that seek to equip themselves with the necessary tools and solutions to accelerate their business in the new digital era.
The 0% financing programme will provide SMEs access to necessary technological enablers from Cisco without breaking their budget. SMEs will enjoy a 3-year, full payout lease plan where they pay equal 36-month payments on their Cisco purchases that costs between USD20,000 to USD300,000 (RM85,600 to RM1.28 million) and will fully own the equipment at the end of contract period.
The new financing option is now available through Cisco Capital, the vendor financing business within Cisco that delivers customer-centric, partner-enabled payment options for Cisco-led solutions. For more information on the offer, visit their website or connect with your local Cisco team.
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