The credit offer comes following Cisco and HPE providing billions in financing terms to and through partners
Dell Technologies is joining the cast of vendors extending generous credit terms to help partners and customers continue acquiring products and services amid the COVID-19 pandemic’s economic downturn.
The Lowdown: In a post this morning, Dell announced the new financing program that allows businesses to purchase a variety of products and services — including through partners — with no interest and deferred payment terms. Additionally, Dell is giving partners extended payment terms up to 90 days under certain circumstances.
The Details: The Dell credit and financing offers vary by product.
> Customers buying servers, storage and networking products can get 0% financing with no down payment and deferred payments up to 180 days.
> Data center and services customers can defer payments up to 180 days
> Customers needing new PCs and laptops can buy with 6 to 12 month payment terms
> Enterprises buying Dell Technologies On Demand solutions such as hyperconverged, hybrid cloud, storage and data protection can sign up for contracts as short as one year.
> Dell partners can extend their payment terms 45 to 90 days through special arrangements with Dell’s Working Capital Solutions Program.
The Impact: The credit and financing program benefits customers by giving them options to continue accessing technologies they need for operations without impacting cash flow or long-term debt. For partners whose customers finance through Dell’s financial services, the program enables them to receive payment within days of a transaction.
Background: Solution providers around the world are feeling the economic impact of the COVID-19 pandemic. As businesses shut down or curtail operations, they have less cash for IT products and services. Cisco and HPE announced similar programs as the Dell initiative.
“This is our commitment to help you run your business, take care of your people and access essential technology,” wrote Bill Wavro, president of Dell Financial Services, in an announcement of the program.