Health Finance Made Easy
Who is this for?
- Health care providers – Hospitals, Diagnostic Centers, Pharmaceuticals, Clinics
- Medical Practitioners - Medical Practitioners (Doctors, Pharmacists, Nurses Radiologists, etc.)
- Health care businesses and business owners - Pharmaceutical Businesses, Patent Drug Dealers, Medical Equipment Sellers, Medical Consumables Retail Outlets
- Health Management Organizations (HMOs)
Health Finance Products
Stock Finance Facility
Designed to finance the purchase of medical supplies and consumables.
Features
- Obligor: Uncollateralized Up to N10m
- Collateralized up to N50m.
- Interest Rate: Based on Raroc
- Tenor: Up to 12 months (available in a 90-day clean up cycle)
Working Capital Facility
Designed to finance the purchase of stock and other working capital needs.
Features
- Obligor: Retail - Up to N10m Wholesale – Up to N20m
- Interest Rate: Based on Raroc
- Tenor: Up to 12 months.
Asset Finance Facility
Designed to finance the acquisition of medical equipment and operational assets.
Features
- Obligor: Up to N50m (for brand-new assets) and Max of N20M (for second-hand assets)
- Interest Rate: Based on Raroc
- Tenor: Up to 36 months.
- A minimum of 12 months’ banking relationship with any bank.
- The hospital, diagnostic center, or pharmaceutical company must be actively operational for at least 2 years.
- The company and its promoters must have clean credit reports.
- The Bank’s collection platform must be deployed in the business. The Bank shall be the sole collection bank for the business.
- A global limit of N7billion.
- An obligor cannot access an Overdraft and a Term loan at a time.
Types of facility that can be accessed via the template credit?
- Stock Finance Facility
- Asset Finance
- Working Capital Loans (Overdraft/Short term loans)
Can I access an unsecured facility under the template credit?
Yes, up to N10M is uncollaterised.Â
How much can I access under stock finance?
Maximum of N50M
Do I need to ask the customer to provide an equity contribution for stock finance?
No
What’s the maximum limit that customers can access under stock finance?
20% of the customer’s annual turnover
What is the maximum amount that can be financed for Asset Finance?
For Brand New Assets?
30% of annual turnover, subject to a maximum of N50 million.
For Certified second-hand assets:
15% of annual turnover, subject to a maximum of N20 million
What is the equity contribution required for Asset finance?
Minimum of 20% of the value of an asset for brand new assets and a minimum of 40% for second-hand assets.
What is the maximum Tenor for a working capital facility?
365 days (maximum of 90 days cycle for overdraft facilities)
What is the maximum amount that can be financed for Asset Finance?
For Brand New Assets?
36 months/48 months (for new vehicles e.g Ambulances)
For Certified second-hand assets:
18 months.
Get started with the Sterling Health Finance.
Fill out the form to apply for health financing
