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Polaris Bank set to fund SMEs in health sector

As part of its ongoing effort to revitalize the growth of SMEs in the Health Sector, Polaris Bank has announced the introduction of a new Polaris Health Sector Loan bundle to support the growth of the sector. The product is designed to meet the funding needs of Healthcare service providers in Nigeria.

Speaking on the benefits of the new products, The Group Head, Products and Market Development of Polaris Bank, Mrs. Adebimpe Ihekuna disclosed that “Polaris Bank is passionate about the Health sector in Nigeria and is willing to support the private sector to drive the most desired growth needed for its transformation.”

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Mrs. Ihekuna explained that “the product is a loan program targeted at SMEs in specific health sub sectors such as: Hospital’s (including Dental and Optometry clinics), Pharmacies and Medical Laboratories / Diagnostic Centers, with a view to meeting their funding needs.

“The Polaris Health Sector Loan product offers a lot of benefits for SMEs in the identified sectors including getting tailor-made funding for their business, payment solutions for collections of fees, financial advisory services,  capacity building programs and dedicated relationship management, to mention a few, ” she added.

It would be recalled that the Bank recently introduced Polaris Salary Advance to provide a quick finance solution that enables customers to address spending needs such as: household bills; health expenses; repairs & replacements; unexpected travels and moving expense.

The Polaris Health Sector Loan is available as overdraft or term loan with extended tenors, depending on the unique funding needs which include working capital requirement for stock/consumable purchases, term loan for rent, renovation, remodeling or expansion, acquisition of operational vehicles, generators, air conditioners and refrigerators for storage. The product is available to existing and new customers looking to grow their businesses in this sector.

 

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