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Health Finance
The Health Finance Loan is targeted at registered pharmacies, private hospitals and other health care service providers.
Loan Information
The Health Finance Facility is a comprehensive suite of credit solutions designed to support pharmacies, patent and proprietary medicine vendors (PPMVs), diagnostic centres, and private healthcare providers — including hospitals, dental, optical, and veterinary clinics — by financing working capital, drug and medical supplies stocking, and the acquisition of medical and diagnostic equipment, with flexible tenors and competitive pricing.
- Access up to N20M subject to 20% of annual credit turnover from business sales, and higher limits to be considered on a case-by-case basis to support working capital and the purchase of medical equipment.
- Term loan for Pharmacies/ Private Hospitals & Diagnostic centres
- Medical Equipment financing
- Tenor is 180 days for working capital and 3 years for asset finance (terms & conditions apply)
- Interest is competitive and subject to changes in money market realities
- No tangible collateral is required for all working capital loans.
- Provides access to funding at competitive rate and flexible term.
- Provides equipment financing and opportunity for business expansion.
- Steady buildup of funds which enables efficient management of cash flow.
- No collateral required for working capital loan.
- Duly completed loan application form
- CAC Annual Filling Returns
- Current Year Financial Statements
- Signed undated cheque
- Evidence of Relevant Licenses (PCF, PPMV/NAPPMED, MLSCN, ARIN etc.,)
- Personal guarantee of Principal
- Introduction letter from ACPN / APPMAN/GMLD/ARIN (if applicable)
- Proforma invoice (for equipment financing)
- Insurance: Keyman and other applicable insurance.
To Apply for an Health Finance Loan,
- Visit the nearest FirstBank branch
FAQs
The Health Finance Facility is a comprehensive suite of credit solutions designed to support pharmacies, patent and proprietary medicine vendors (PPMVs), diagnostic centres, and private healthcare providers—including hospitals, dental, optical, and veterinary clinics—by financing working capital, drug and medical supplies stocking, and the acquisition of medical and diagnostic equipment.
Tenor is 6 months for working capital (Pharmacies, PPMVs, Private Hospitals & Diagnostic Centres) and 36 months for the purchase of medical equipments.
Collateral for working capital – undertaking to domicile business proceeds with FirstBank.
Customers can access up to N20M for working capital, and higher limits are to be treated on a case-by-case basis.
For medical equipment financing, transactions are to be considered under self-accessed credit regardless of the maximum loan amount, given that they are highly specialized.
- Pharmacies/ Patent & Proprietary Medicine Vendors (PPMVs)/ Diagnostic Centres are expected to have been in business operation for a minimum of 2 years, while Private Hospitals are expected to have been in business operation for a minimum of 5 years.
- Pharmacies/ Patent & Proprietary Medicine Vendors (PPMVs)/ Private Hospitals/ Diagnostic Centres must have been in account relationship with any bank for a minimum of 12 months.
- Pharmacies/Diagnostic centres/Private Hospitals/ PPMVs must possess their various practicing licenses.
Pharmacies – No
For Private Hospitals & Diagnostic Centres – Yes, 20% equity contribution for medical equipment financing.
No. However, applicants must have been in a banking relationship with any reputable bank for at least 12 months.
