Stanbic IBTC Bank Offers Funding Support to Healthcare SMEs in Nigeria

In a bid to guarantee the delivery of quality healthcare services and retain skilled professionals, Stanbic IBTC Bank has provided a range of financial products to Small and Medium Enterprises (SMEs) in Nigeria.

The lender, a subsidiary of Stanbic IBTC Holdings Plc, made this possible through a partnership with Tillit MSME Microservices.

The bank is providing funding packages to healthcare SMEs in Nigeria through short-term loans of up to N10 million; overdraft facilities of up to N2 billion; and term loans of up to N5 billion.

The funds can be used for crucial purposes including stocking medication, consumables, procurement of services, and essential assets. With repayment periods spanning from 12 to 60 months, these loans have been tailored for healthcare SMEs.

Beyond financial assistance, Stanbic IBTC Bank offers guidance on effective cash flow management to healthcare SMEs. The bank will provide support to help enhance the quality of patient care, thereby helping businesses to enhance their sustainability and growth prospects.

By leveraging the synergies between both entities, this collaboration will address critical challenges faced by SMEs, enabling them to deliver better care and retain skilled personnel. Ultimately, this contributes to the overall health and sustainability of enterprises in Nigeria’s dynamic healthcare ecosystem.

“We recognise the pivotal role healthcare SMEs play in our economy and Stanbic IBTC Bank is dedicated to facilitating their growth journey.

“Our customised financial solutions and extensive partner network will empower these businesses to thrive,” the Head of Commercial Banking at Stanbic IBTC Bank, Mr Babatunde Akindele, said.

On his part, the Managing Director of Tillit MSME Microservices, Mr Yomi Sule, expressed his excitement regarding their partnership with Stanbic IBTC Bank. He stated that this collaboration is a game-changer for healthcare SMEs in Nigeria, as it provides access to customised financial products, seamless application processes, and prompt disbursement.

“Stanbic IBTC Bank is the ideal financial partner, as it offers suitable financing and an ecosystem of partners that provide valuable business support services to healthcare SMEs, ensuring their holistic growth,” he stated.

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