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Hyderabad, NFAPost: The $2 billion financings will be applied to help customers ensure business continuity and adapt in the current environment by addressing new technology financing needs and convert their IT infrastructure into new sources of capital, the organization said in a statement.

As part of another payment relief programme, customers can acquire the technology they need today and pay only 1% of the total contract value each month for the first eight months, deferring over 90% of the cost until 2021.

Beginning in 2021, each monthly payment would equal approximately 3.3% of the total contract value.

Irv Rothman, President and CEO of HPE Financial Services said these are difficult times. “This is a challenging time to lead a business. Today more than ever, IT leaders and CFOs play a central role in ensuring financial health while continuing operations,” he said in a statement.

“At HPE Financial Services, we are committed to helping businesses align their priorities from an IT economics perspective and provide them with concrete solutions so they can move forward,” Rothman added.

Many businesses have an immediate need to preserve cash flow, defer or reduce expenses, and relieve capacity strains and delivery delays.

In addition to the payment relief programme, the company is also enabling a 90-day delayed payment structure to help ease customers’ tight budgets.

This payment deferral option is available on new technology purchases and is eligible for a range of HPE hardware and select software, software appliances, services, and installation packages.

Over the last two years, HPEFS has infused more than $642 million back into clients’ budgets.

HPEFS is also offering customers a phased deployment programme that allows them to acquire compute and storage capacity now with the flexibility to configure, test, and stand up systems before paying.

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