Calcutta, April 23: Cisco Capital, the financing arm of networking company Cisco, will get a fresh infusion of funds from its parent by the end of July.

The non-banking financial company, which helps customers finance their investments in Cisco solutions, started its operations in the country three years ago. The company had been given a $150-million budget then, which it has used up.

“Since inception we have served over 110 clients and are growing at over 60 per cent year-on-year. We expect a lot of growth from the small and medium business (SMB) segment and offer financing options especially for SMBs. We also have options with relatively higher interest rates for other customer segments, though they are lower than the market rate,” said Cisco Capital country manager Gautam Munish.

Its easy lease programme for SMBs is available at a 7 per cent interest rate for 12 to 36 months. The programme can provide financing for transactions ranging from Rs 10 lakh to Rs 80 lakh.

Banks and financial institutions, on the other hand, charge interest rates as high as 13 to 14 per cent from SMBs. Cisco defines SMBs as organisations with less then 200 personal computers in their office network.

“With prime lending rates rising, we will charge this rate of interest from SMBs for another two to three quarters. The credit situation, however, is tight right now. More companies are opting for financing options as they want to optimally utilise their investments and stretch the rupee farthest,” Munish said.

Cisco Capital contributes 12 per cent to the parent company’s revenues in the country. It plans to add 100 to 125 SMB clients by the end of this fiscal with this new scheme.