Stanbic IBTC Upgrades Short-Term Loan for Healthcare

In order to further support the country’s healthcare system, Stanbic IBTC Bank, a part of Stanbic IBTC Holdings, has enhanced its short-term lending program for the healthcare value chain.

This upgrading guarantees a flexible repayment schedule, a reasonable interest rate, and no collateral, allowing sector operators to access better funding and reach the highest level of service delivery.

The healthcare short-term loan, which now has a longer period of 12 months, a lower interest rate, and no collateral requirements, will encourage greater investment in the industry and strengthen tactical alliances to create new firms.

Jane Ike-Okoli, Head of Specialized Sectors at Stanbic IBTC Bank, stated at the Medic West Africa Conference that improving Nigeria’s healthcare system requires efficient cooperation between financial institutions and healthcare groups.

She suggested that financial organizations be more deliberate about enhancing government efforts. “Stanbic IBTC has a thorough understanding of the healthcare industry and its nuances,” she claimed. This information motivates us to keep developing creative, cost-effective solutions to support healthcare firms nationwide.

Despite being the largest healthcare market in Africa, she claims that Nigeria still faces problems with its healthcare infrastructure and funding. “Stanbic IBTC is passionate about bringing about change, which is why we have partnered with important players in the healthcare industry to provide access to financing for healthcare. We accomplish this by providing healthcare providers and businesses with flexible finance choices, as well as by strategically working with other members of the healthcare ecosystem.

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“Our healthcare solutions are tailor-made for businesses in the sector who need working capital to expand healthcare operations, acquire medical equipment, facilitate medical research, and ultimately grow their healthcare businesses,” she stated.

The newly enhanced healthcare short-term loan, according to Babatunde Akindele, Head, Coverage, Commercial Clients, is an essential investment.

“Healthcare is a basic need that everyone should access easily. The pandemic has increased the pressure on the health sector by revealing the urgent need to expand healthcare facilities. Stanbic IBTC has taken yet another step in the right direction to improve healthcare infrastructure and enable qualitative service delivery, which will restore the hope of many Nigerians,” he said.

The expansion of the healthcare industry in Nigeria depends on effective and cutting-edge financial solutions that are positioned to level the playing field and encourage corporate growth. According to Stanbic IBTC, it is still committed to breaking new ground in this area.