Po­laris Bank dis­burses bil­lions of naira un­der Its health sec­tor loan

Business a.m. - - FINANCE & INVESTMENT - Busi­ness a.m.

Po­laris Bank in its sup­port for SMEs in the health sec­tor (pri­vate hos­pi­tals, phar­ma­cies, re­tail­ers, di­ag­nos­tic cen­tres, etc…) launched a one stop-so­lu­tion, in Septem­ber 2019, and has dis­bursed bil­lions to sup­port the growth of the Nige­rian health sec­tor through tai­lor-made bank­ing prod­ucts for busi­nesses in this space.

This drive was fur­ther re-en­forced by the CBN N100­bil­lion Health sec­tor sup­port fund set aside by the Apex Bank to help cush­ion the ef­fect of COVID-19 on the na­tion’s econ­omy and the health sec­tor in par­tic­u­lar.

This was made known by Ade­bimpe Ihekuna, the bank’s group head, prod­ucts and mar­ket while com­ment­ing on the re­cently con­cluded we­bi­nar tagged “Man­ag­ing Health Care Busi­ness Dur­ing and Post-COVID-19”.

El­i­gi­ble par­tic­i­pants un­der the scheme com­prise healthcare prod­uct man­u­fac­tur­ers – phar­ma­ceu­ti­cal drugs and med­i­cal equip­ment; and healthcare ser­vice providers/med­i­cal fa­cil­i­ties – hos­pi­tals/clin­ics, di­ag­nos­tic cen­tres/lab­o­ra­to­ries, fit­ness and well­ness cen­tres, re­ha­bil­i­ta­tion cen­tres, dial­y­sis cen­tres and blood banks.

Others in­clude phar­ma­ceu­ti­cal/med­i­cal prod­ucts dis­tri­bu­tion and lo­gis­tics ser­vices; and other hu­man healthcare ser­vice providers as may be de­ter­mined by the Cen­tral Bank Of Nige­ria (CBN) from time to time.

Ade­bimpe ex­plained that the chunk of the dis­burse­ments were un­der the CBN in­ter­ven­tion funds at 5% and up to 10 years loan tenor; as well as di­rect dis­burse­ment from Po­laris Bank at a with highly com­pet­i­tive terms and con­di­tions.

She con­firmed that healthcare firms/busi­nesses in the value chain who wish to take ad­van­tage of the scheme to ex­pand and grow their busi­ness, should sub­mit their ap­pli­ca­tion at any branch of Po­laris Bank or send a mail to: sme­busi­ness@Po­lar­is­banklim­ited.com to en­gage a Prod­uct Man­ager for guid­ance.

Ap­pli­cants can also visit the Po­laris Bank web­site: www.po­lar­is­banklim­ited.com for ad­di­tional de­tails on the CBN N100 bil­lion Health sec­tor sup­port fund and other lines of prod­ucts.

Po­laris Bank is a fu­ture-de­ter­min­ing Bank com­mit­ted to the de­liv­ery of in­dus­try-defin­ing prod­ucts, and ser­vices, across all the sec­tors of the Nige­rian econ­omy.

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