Medical facilities can get credit for payment of essential equipment and supplies.

Main features

Credit can be accessed immediately or as soon as same day of request.

Available to pre-approved medical facilities.

Maximum amount is $10,000.

Spread out repayment in 4 equal parts or less.

Set interest rate of 4% percent maximum.

Set moratorium (time before repayment starts) of 1 month maximum.

Set tenor (duration of loan) of 4 months i.e. loan must be fully paid back within 4 months.

Late penalty fee of 6% on the default amount.

Credit can be used for full or part payment for new medical equipment and supplies or to rent equipment for temporary use.

Basic Steps

The medical facility completes and submits application.

MedNeed confirms the medical facility and the equipment needed.

The fund is made available for the payment.

MedNeed works with the medical facility to ensure that the equipment is acquired accordingly.

The medical facility makes repayments as agreed in the terms.

Key Benefits

Support and guidance throughout the process, from getting the credit to acquiring the medical equipment.

Faster access to credit for immediate equipment and supplies.

More payment flexibilty at very minimal cost.

Better terms including lower interest rate and reasonable moratorium.

Better prices and quality assurance on equipment from certified vendors and renters.

Make your capital budget go as far as possible to obtain the innovative technology you need.

Basic Prequalification

Available only to medical facilities in Ghana, Kenya, Nigeria and South Africa.

The medical facility must be duly registered and meet all applicable local regulatory and professional requirements.

The director/representative of the medical facility must be a certified member of an accredited medical association.

The medical facility must be guaranteed by the accredited medical association for approval.

The medical facility must show due need for the equipment since funds are only for medical equipment and supplies.

The medical facility must agree to abide by the terms and make repayment as and when due.

The medical facility must consent that MedNeed will collect payments from borrowers who are delinquent or in default using every applicable regulatory and legal avenue.