HP Rolls Out Zero Percent Financing Options for SMBs

Vendor tries to spark SMB buying, follows similar offer from rival Cisco.

February 2, 2010

D.H. Kass

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Hewlett-Packard Co. said that for the next three months it will offer zero percent financing to SMBs through two promotions aimed at sparking additional sales from that segment.

The company said that its zero percent offers, which are available in North America through April 30, include a 12-month lease with a $1 purchase option or a 36-month lease with fair market value option to buy.

HP’s zero percent financing deal follows a similar one initiated last week by Cisco Systems Inc.

Cisco is offering zero percent financing for 36-months on purchases of the vendor’s entire lineup of hardware, software and services ranging from $1,000 to $250,000 made through July 31, 2010.

By comparison, HP’s promotion extends for a shorter period of time than Cisco’s and has some limitations on eligible products.

An HP official said that its promotion is intended to prompt technology purchases from budget-compromised SMBs.

“As demands shift and available resources fluctuate, companies require the right technology to stay efficient, competitive and profitable,” said Tom Adams, HP financial services vice president and managing director.

“Leasing helps business customers keep their technology up to date and make the most of their IT budgets,” he said.

Both of HP’s zero percent financing offers are for transactions between $1,500 and $150,000 in the U.S. and $5,000 and $150,000 in Canada.

Eligible equipment includes laptops, desktops, workstations, monitors, printers, scanners, industry standard servers and blades, business critical servers, ProCurve networking and certain storage products.

Some printing supplies such as ink, toner and paper are not eligible for the special financing promotions nor are Care Pack Services, shipping and software.

TAGS: SMB,financing,hewlett-packard,lease

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