To access the N100bn loans provided by the Central Bank of Nigeria for firms in the healthcare sector, a corporate entity must submit its application to a participating financial institution which cou
ld be either a Deposit Money Bank or a Development Finance Institution of its choice with a bankable business plan.
It stated in its latest guidelines that the PFI must appraise and conduct due diligence on the application; and upon approval by the PFI’s credit committee, the application would be submitted to the apex bank with relevant documents attached.The CBN stated that the PFI must receive and review applications submitted by its customers; undertake due diligence based on normal business considerations; and bear the credit risk.
It requires the PFIs to register all movable assets with the National Collateral Registry; forward periodic returns in the prescribed format on the scheme to the CBN; comply with the guidelines; and carry out any other duties as the CBN may prescribe from time to time. Others include pharmaceutical/medical products distribution and logistics services; and other human healthcare service providers as may be determined by the CBN from time to time.
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