Polaris Bank Disburses Billions Under Health Sector Loan in 30 days …Still Counting

Monilola Ajeniya/

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 the Bank’s Group Head, Products and Market Development, Adebimpe Ihekuna while commenting on the recently concluded webinar tagged “Managing Health Care Business During and Post-COVID-19″.

Eligible participants under the scheme comprised of 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 might be determined by the Central Bank Of Nigeria (CBN) from time to time.

Adebimpe explained that the chunk of the disbursements are under the CBN intervention funds at 5% and up to 10 years loan tenor; as well as direct disbursement from Polaris Bank 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, could 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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