January 2010: Three-Year, Zero Percent
According to Cisco, the financing initiative introduced last year was one of the most popular SMB financing programs it's ever offered: a three-year, zero percent financing program that started in January 2010. That program, available through Cisco Capital, covered deals ranging from $1,000 to $250,000, and spanned the entire Cisco portfolio, from hardware and software through services and maintenance. According to Cisco's Andrew Sage, partner use of the program increased nine-fold during its first three months.
The program's terms ended later in the year, and it has since been adjusted to a three-year, 3 percent financing offer for deals going up to $150,000. According to Cisco's Maryann von Seggern, however, it's still "a hell of a deal" when many customers are financing deals at 12 to 18 percent.