Cisco announced a financing program on Tuesday that will let customers defer 95% of their payments for new products until 2021. Cisco is committing $2.5 billion to cover financing for the effort.
The move represents a corporate response from one of the largest enterprise technology companies to the business fallout from Covid-19 while unemployment claims quickly pile up. The offerings could help customers preserve cash amid reduced economic activity while people stay at home to avoid further spread of the coronavirus. Then, once conditions have improved, they’ll be in a better position to pay what they owe.