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By 7 April 2020 | Categories: news

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These are without a doubt extraordinary times, and some companies are rising to the challenge in extraordinary ways. For example, Dell Technologies today announced that it is offering a payment deferment options for current and new customers financed through Dell Financial Services (DFS).

The move is aimed at “helping organisations limit the unprecedented pressure put on their cash flow and financing by the COVID-19 pandemic,” according to  the company.

Specifically, DFS offers 3- and 6-month payment deferment on end-user devices and enterprise systems bought by South African companies, covering financing arrangements from R250,000 to R15 million. Once the deferment has been applied for and processed, subject to credit approval, buyers of end-user devices can enjoy a delay of up to 3 months, while enterprise systems buyers can do so for up to 6 months.

The deadline for deferment approvals closes on 31 July, and it requires 10-14 days to process applications. The company explained that by successfully applying for the deferment, a company can delay payments for its financing contract with DFS as well as gain protection against the volatile Rand/Dollar exchange rate. The latter has rocketed past 18 to the dollar since the pandemic began, and was only beaten further on Moody’s recent downgrade to junk status.

The company continued that DFS customers ill also have the benefit of locking in a rate today. Interest will be compounded at the lowest rate, decided on a case-by-case. In addition, Dell will support extended warranties to include the added deferment period.

New customers can take advantage of the offer to begin their technology modernisation and refreshment projects. This deferment, according to the company, is “an opportunity to secure their organisations’ futures further, pending on credit approval.”

 “The COVID-19 pandemic is creating unexpected and unusual financial pressures for South African companies,” said Monique Watson at Dell Financial Services. “We want to support local companies and the economy during this difficult period, enabling them to continue their growth and output without worrying that their modernisation investments will be undone. If we all stand together, we can overcome the damage of this pandemic,” she concluded.

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