MEDICAL SECTOR OFFERINGEdited on March 27, 2018
Credit Bank has partnered with Medical Credit Fund – a fund established in Netherlands under the Pharmacess group, which specializes in offering technical and quality assurance support to the private healthcare sector. The partnership will therefore allow medical practitioners access both technical and quality healthcare support from the Medical Credit Fund, as well as financial support from Credit Bank to invest in their business thus improving their scale, quality and efficiency.
The loans are combined with a Business Development Program aimed at improving the quality and capacity of the hospital / clinic seeking financing. Most institutions lack access to capital to grow and improve their business and Credit Bank seeks to address this problem.
Who is Eligible?
Eligible clients entail private medical practitioners and not-for-profit medical organisations, having existing operations with a strong performance record and seek debt capital to expand their business, enter new markets or offer new or higher quality services. These can be;
- Healthcare Providers such as hospitals, diagnostic centres, clinics, pharmacies etc.
- Companies supplying products or services to the health sector such as distribution of medical suppliers and pharmaceuticals, medical technology, information systems or education of health workers e.g. nursing schools etc.
The loans offered will generally be dominated in Kenya Shillings and will have the following features;
- Loan amounts range from Kenya Shillings 100,000 to 650 million
- The loan tenor varies form 3 years – 6 years with reasonable collateral requirements.
- Borrowers will benefit from quality assurance from Medical Credit Fund
The products offered include;
- Working Capital Facilities
- Medical Equipment Finance Facilities
- Construction Facilities
- Invoice Discounting Facilities
- Supplier Finance Facilities
- Asset Finance Facilities
- Insurance Premium Financing Facilities
The loan application process has several stages and is executed in collaboration with the Medical Credit Fund (MCF). The start is an Initial Screening of the information provided about your institution and the loan requested. Thereafter, a more in-depth study will be performed.
The final step involves the perfection of documents and contracts. The time involved in this process depends on what information is readily available.Categories : Banking Solutions