Date:06/08/2007 URL: http://www.thehindubusinessline.com/2007/08/06/stories/2007080650280200.htm

Back Cisco offers SMBs ‘easy lease’ option

L.N. Revathy

Coimbatore, Aug 5While Small and Medium Businesses (SMBs) understand the implication of technology adoption, they have always been put off by the cost. To enable SMBs adopt such solutions, Cisco Systems gas started to offer a leasing and financing option, which ensures spread of the IT spend over a period of time.

Cisco Capital, which offers the ‘Easy Lease Programme’ option to SMBs, is betting big on the India market. It is luring customers into availing this option by offering at rates below the PLR (Prime Lending Rate).

Responding to queries from Business Line, Mr Gautam Munish, Country Manager-Leasing, Cisco Capital India, said the ‘Easy Lease’ programme rate would be applicable for all client-specific transactions. Such transaction ca n comprise Cisco and non-competing non-Cisco purchases, but should not exceed Rs 80 lakhs (as long as the ratio of funding was kept 2:1 and the non-Cisco purchase, non-competing as well).

Asked if the option could be availed by banks at rates below the PLR, he said “this is irrespective of the industry the client is a part of”.