ISTANBUL, Turkey, March 22, 2007 - Cisco is committed to support Turkey's transformation into a global digital economy. As part of our continued investment in this development, Cisco CapitalTM and DenizLeasing today announced the launch of Easy Lease in Turkey. Designed to fuel the expansion of small and medium-sized businesses in this important emerging market, Easy Lease is a straightforward leasing package. It offers a 5 percent competitive financing rate, flexible terms and fast credit processing, and will be available in Turkey through Cisco certified resellers from March 22nd, 2007.
Easy Lease makes it simple for channel partners in Turkey to work with SMB customers and help them invest in the information communications technology (ICT) they need to grow their business. By making payments on a monthly or quarterly basis, SMB customers can maintain consistent and balanced operating and capital expenditures. This helps SMB customers to quickly and easily adopt state-of-the-art network technology with minimal initial investment and helps reduce financing and operational costs.
"Small and medium businesses are a key part of Turkey's national economy, making up 98 percent of all Turkish businesses and employing 77 percent of the country's total workforce. Turkish SMBs understand the critical transformative impact technology can have on their business," said Erkan Akdemir, general manager of Cisco Turkey. "This competitive leasing offering from Cisco Capital and DenizLeasing put Cisco ICT technology within the reach of more SMBs, enabling them to increase productivity and better compete globally. To sustain the high economic growth rates we have seen in Turkey for the last four years, it is important to continue increasing productivity and enable workforce with the latest communications and information technologies. The introduction of Easy Lease in Turkey is another milestone in Cisco's US $275 million investment in Turkey announced last year."
DenizLeasing, a subsidiary of the leading Turkish Denizbank Financial Services Group, will underwrite the leases. DenizLeasing has a long-standing expertise in leasing products and in-depth knowledge of the local SMB market. "We are pleased to work with Cisco Capital and Cisco channel partners to offer tailored finance packages to our mutual SMB customers that make it easier for them to acquire essential IT communication equipment. The Easy Lease offering that we are announcing under the theme of 'unparalleled financing for competitive transformation' is a key element in our continued focus on the SMB market. Thanks to this project, Turkish SMBs can strengthen their technological infrastructure and integrate rapidly to the global economy in line with up to date requirements." said Hakan Ates, the Head of Denizbank Financial Services Group.
"SMBs recognize that technology can play a central role in achieving key business objectives and help them become more competitive, but they often find it difficult to raise the capital necessary to invest in enabling technologies. Easy Lease makes it possible for partners to bring leasing to every SMB deal upfront and allows them to complete the necessary paperwork and approvals. The rapid payment terms from DenizLeasing to the channel partner also significantly improve our channel partners' cash flow, enabling them to focus on deepening customer relationships," said Oscar Bode, director of Emerging Markets, Cisco Capital.
The Easy Lease package is currently available at a 5 percent rate (or 0,42% monthly) for a 12-36 months term, with 3 months postponement. Local companies can make use of a special payment plan designed according to their cash flows and can safeguard themselves against inflation with the fixed interest funding option. In addition, firms which use DenizLeasing's leasing service take advantage of 17% VAT rebate and can present the interest amounts in monthly payment as expenditures.
For more information about Cisco's offering for SMB and mid-market businesses, please go to: http://www.cisco.com/go/smb
About Cisco Capital
Cisco Systems Capital Corporation, a wholly owned subsidiary of Cisco Systems, Inc., specializes in financing networks by providing innovative, flexible financial programs to Cisco customers and channel partners worldwide. Cisco Capital offers attractive, flexible and short-term financing solutions that make it possible for customers to obtain higher credit lines and longer and more flexible terms that ultimately help them build stronger and healthier businesses. For more information, visit http://www.cisco.com/global/EMEA/cisco_capital/index.shtml
DenizLeasing is a wholly-owned subsidiary of Denizbank Financial Services Group and has a 375 million USD annual financial leasing volume. Since the commencement of operations in December 1997 as a member of DenizBank Financial Services Group, DenizLeasing's operating strategy has been to pursue controlled growth and highlight customer service whie offering competitive rates. Conforming to the strategic plan of DenizBank Financial Services Group, DenizLeasing has focused on its core business of financial leasing that its built on the powerful synergy created within the Group. DenizLeasing's customer portfolio mainly consists of small and medium-size businesses in Turkey, covering virtually all economic sectors. For more information, visit www.denizbank.com.