In a credit market as arid as the Mojave Desert in August, news of HP's zero-interest small-business financing is a welcome as a spring rain. Available through HP Financial Services, the two programs are designed to help small companies invest in technology, increase efficiencies and grow their business.
The U.S. economy presets a serious challenge especially to cash-strapped SMBs, said Brian Burch, HP's director of small business marketing. "HP is in a strong position relative to the rest of the world, and we want to bring a Rock of Gibraltar-like opportunity to our current and prospective customers," he said.
The program consists of both buy and lease plans. When HP presented the idea for evaluation to a focus group of small business owners, the feedback provided one resounding mandate: offer both purchase and leasing options.
"No matter how tough times are, there are people who want to buy," said Burch. "The 12-month same-as-cash plan lets business owners invest in technology while keeping a tight grip on their cash flow."
The zero-percent 12-month purchase option lets you spread the cost of your IT investment over one year. At the end of the term, you buy the equipment for one dollar (note: the loan is interest-free as long as you pay-in-full within the 12-month term).
The leasing option covers a 36-month term, at the end of which you can either return the equipment or pay the fair-market price and keep it.
Customers in the U.S. can finance between $1,500 and $150,000 dollars worth of HP products or services, and the financing is available through April 30. After that time, Burch said, HP will evaluate program and decide whether or not to continue it.
History has shown that companies that continue to invest in their business during economic downturns are the leaders who emerge when times get better, Fred Bullock, vice president, HP marketing, said in a written statement. These offers allow customers to invest in technology that can grow their business while minding their budget and freeing up capital.
Burch echoed that sentiment and adding that, "This is an opportunity for HP to fill the gap when credit is so hard to come by, and it's an opportunity to serve our customers. "We're in this for the long-haul."
You can find more information at HP Total Financing, which is part of HP's Total Care portfolio of software, services and support.
Lauren Simonds is the managing editor of SmallBusinessComputing.com
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