Stanbic IBTC Bank Partners with Tillit to Boost Healthcare SMEs in Nigeria

Stanbic IBTC Bank has joined forces with Tillit MSME Microservices to offer tailored financial products and support to Small and Medium-sized Enterprises (SMEs) in Nigeria’s healthcare sector.
This strategic partnership aims to address the challenges faced by healthcare SMEs in delivering quality services and retaining skilled professionals.
Through this collaboration, healthcare SMEs can now access a range of financial products from Stanbic IBTC Bank, including short-term loans of up to N10 million, overdraft facilities of up to N2 billion, and term loans of up to N5 billion.
These funds can be used for various purposes, such as stocking medication, consumables, and purchasing essential assets.
With repayment periods ranging from 12 to 60 months, these loans are designed to meet the unique needs of healthcare SMEs.
In addition to financial assistance, Stanbic IBTC Bank will provide guidance on cash flow management to help healthcare SMEs enhance the quality of patient care and improve their sustainability and growth prospects.
Babatunde Akindele, Head of Commercial Banking at Stanbic IBTC Bank, emphasized the bank’s commitment to supporting the growth of healthcare SMEs.
He stated that the partnership with Tillit MSME Microservices would empower these businesses to thrive by providing them with customized financial solutions and access to a comprehensive partner network.
Yomi Sule, Managing Director of Tillit MSME Microservices, highlighted the significance of this collaboration for the healthcare sector in Nigeria.
He noted that the partnership would provide healthcare SMEs with access to tailored financial products, seamless application processes, and prompt disbursement.
The partnership announcement comes after the successful hosting of Stanbic IBTC Bank’s inaugural Healthcare Breakfast Session, which brought together top leaders and innovators in the healthcare sector.
This collaboration between Stanbic IBTC Bank and Tillit MSME Microservices aims to address the critical challenges faced by healthcare SMEs in Nigeria, ultimately contributing to the overall health and sustainability of enterprises within the country’s dynamic healthcare ecosystem.
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