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Our Bureau

Bangalore, July 4 Cisco, networking technology and products company, has announced a zero per cent financing facility for small and medium businesses for its multi-layer services programme, that will seek to tackle the challenges of the sector through cost control and investment in technologies and infrastructure.

The scheme, launched here this week, will be extended to China, Korea and Hong Kong and other APAC countries. It will initially be in force till 2009 and cover Cisco’s lifecycle approach of planning, designing and implementation for the SMBs. Cisco offers the products at a concessional interest rate of seven per cent to the SMBs.

The scheme devised by its finance arm Cisco Capital, a fully owned subsidiary of Cisco Systems, extends assistance to larger enterprises at market rate, said Mr Guatam Manish, Vice-President, Cisco Capital India. Cisco had invested $150 million in the arm set up in India in 2005, which is part of the $1-billion investment promise announced by Cisco Systems’ Chairman and CEO, Mr John Chambers.

Addressing a press conference here, Mr Manish said the scheme has not been devised to offset the possible impact of the economic downturn or slow down on technology spending or retain its customers from competitors. It was only a value proposition to the sector which would have easier and cheaper access to advanced technology, which was the key differentiator to help the sector enhance its business and competitiveness.

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