Fidelity Bank launches Fidelity Mediloan

The Managing Director of Fidelity Bank, Mr. Jim Baiden has said that healthcare delivery is crucial to the development of a country and any society which neglects the provision of quality healthcare to members, risks losing much of their most valuable human resource.

Mr. Baiden said this when his company, in collaboration with Medical Credit Fund (MCF), a subsidiary of PharmAccess Group, launched the innovative Fidelity Mediloan facility on Monday, 23rd October 2017 at the Swiss Spirit Alisa Hotel, in Accra.

The Fidelity Mediloan product, which will replace the existing MCF Loan-Amortizing Product, has the potential to drive growth and improvement in healthcare delivery by supporting SMEs who operate in this sector with the needed funding to deliver quality healthcare in Ghana.

Launching the product, Mr. Jim Baiden, expressed optimism that the new product will be a major boost to healthcare delivery in Ghana.

“The product as designed will enhance the capacity of Fidelity Bank and MCF to provide funding to healthcare businesses. Funding will be accompanied with technical assistance from the Medical Credit Fund, which is the only dedicated fund that provides loans combined with technical assistance to SMEs in healthcare sector in Africa”. The Fidelity Boss added.

On his part, the Managing Director of Medical Credit Fund, Arjan Poels expressed delight about the collaboration with Fidelity Bank in providing funding to healthcare delivery in the private sector, which are mostly considered high risk to invest.

Explaining the features of the Fidelity Mediloan, Nana Esi Idun-Arkhurst, Director, Commercial & SME Dept said, “we have 3 categories of Fidelity Mediloan, Bronze, Silver and Gold, tailored to enable Fidelity Bank adequately address the needs of health care businesses based on their size and lifecycle stage. Loan amounts range from small ticket loans from as low as GHs4,000 to large ticket loans in excess of GHs1,400,000, as the needs of the institution may determine”.

The product is offering health institutions that operate under the National Health Insurance Scheme the opportunity to run their operations seamlessly with our NHIS Receivables Discounting Product. The new product is offering institution in the health sector that operate under the National Insurance Scheme an advance of 70% pending claims payment due from the National Health Insurance Authority.

The launch were graced by His Excellency Ambassador Ron Strikker, Dutch Ambassador to Ghana, heads and CEOs of Institutions and stakeholders of Fidelity Bank and Medical Credit Fund