Cisco offers loans through channel

Cisco to offer customers up to $200k in finance

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By  Andrew Seymour Published  December 16, 2007

Small businesses in the UAE will be able to obtain loans of up to $200,000 to purchase Cisco networking equipment following the launch of a financing programme that the vendor is rolling out through the channel.

The programme, which is being made available through Cisco Certified Partners and Cisco Business Partners in the UAE, promises to offer end-users flexible payment terms and fast credit processing to allow them to source the funds they need to quickly expand their infrastructure.

Cisco says customers can take out a loan of up toS$200,000 for its hardware, software and services, with tenures ranging from one year to three years subject to credit approval. Certified resellers, along with the vendor's global finance arm Cisco Capital, will help customers to complete financing documentation and process it with Standard Chartered, the local banking partner involved in the initiative.

"Research has revealed that SMBs in the Gulf and elsewhere understand the transformative impact technology can have on their business, yet perceive affordability as a key challenge," said Samer Alkharrat, managing director at Cisco Gulf and Pakistan.

Although the scheme is initially being launched in the UAE, Cisco intends to roll it out across other regions of the Middle East where Standard Chartered has operations.

"Over the past year, Cisco has been aggressively targeting the SMB market on a worldwide level, with the segment projected to be the fastest growing for the company for the next three years," added Yousef Khalili, regional director of commercial business at Cisco MEA. "In the MEA region, we are addressing the needs of SMBs by offering tailored solutions and affordable financing to fit their individual requirements as well as aggressively recruiting and training channel partners to work with SMB customers."

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