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Cisco is betting big on Indian story – after announcing it’s plans to lanch EOS (Entertainment Operating System), a tool to deliver multimedia content to online communities the company has announced interest free financing to Indian SMBs.
As part of its financial offerings for the SMBs Cisco had so far financed about 170 companies in India, for both networking products as well as services at an interest rate of 7 per cent per annum.
The company has now decided to offer zero per cent financing options for companies who for its professional and technological services.
A company going for the financing should avail of services worth $50,000 per annum [source]
This is quite a big deal, as deserving SMBs will be secured against price fluctuation and as part of the plan, Cisco will also take care of future upgrades on behalf of SMBs (really brave, since the tech typically follows Moore’s law and gets obsolete after 1.5-2 years)
More funding related stuff
It appears you need to commit to $50,000 per year for their professional services (not their products). It is not clear how many years this commitment is called for, the program name is Multi Year Services Program.
It is not clear what the story means by “take care of future upgrades”. Possibly refers to the service component of the upgrade only.
Hmm, I would think twice before touching money from any vendor.