Compaq Launches Payment Deferral Plan

Compaq Computer Corp. said it has a new financing plan that will allow businesses to defer payments during the first four months of a lease on any product or service.

Compaq’s financing plan comes at a time when corporate technology spending is on the decline and computer companies are vying for customers. In a similar move, Compaq competitor IBM Corp. on Oct. 3 said it had a new financing plan with a 90-day payment deferral.

Houston-based Compaq said the offer is in effect until Dec. 31.

Compaq shares rose 49 cents to close at $9.50 on the NYSE.