How To Apply For Fedility Bank Pharmacy Support Facility Loan

If you are a registered pharmacist in Nigeria and you have a community pharmacy, and you are looking for a support facility loan to improve your pharmacy by getting more drugs, or you want to expand the structure of the pharmacy, you are reading the right article at the very right moment. We are happy to inform you that Fidelity Bank pharmacy support Facility loan have you covered.

With us being your plug for authentic and timely information, our research team has uncovered this fantastic initiative of Fidelity Bank. It is good to have a business idea, but what good is it when you don’t have the financial strength to establish the business?

Even if you can establish, you still require more money to expand to become the attraction in your business location. Nobody wants to go back to a shop where he, she doesn’t always get the needed item.

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Moreover, since we all hold sound health very important, and rightly so, we wouldn’t want to visit any place that our health needs cannot be attended to timely. Therefore you must be attention to this article, to understand the guidelines that will help you secure the loan for the much-needed drugs.

What then is Fidelity Bank Pharmacy Support Facility?

The Fidelity Bank Pharmacy Support Facility is a Micro, Small and Medium Enterprise loan that is focused on offering working capital finance help to qualified community pharmacy business to help the purchase drugs for sale.

Now that you know what the Fidelity Bank Pharmacy Support Facility is, let us take a look at the eligibility criteria for obtaining the loan.

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Eligibility Criteria

• You must be a registered community pharmacy,

• You must have been operating in the past two years,

• You must be a qualified pharmacist,

• You must be licensed by the Pharmacists Registration Council of Nigeria,

• You must be a certified member of the Association of Community Pharmacists of Nigeria (ACPN)

What is the Collateral?

• Recommendation letter from ACPN confirming your credibility as a member and position with the association.

• Personal Guarantee of Prime promoter with statement of net worth.

Single Obligor Limit

• Retailers – N5, 000, 000

• Wholesalers – N10, 000, 000

Repayment Terms

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• Retailers – 12 months

• Wholesalers – 24 months

What are the Documentation Requirement?

• Customer request letter on a letter head,

• Recommendation letter from ACPN,

• Copy of valid Practicing License,

• Copy of current premises,

• List of inventory revealing unit prices in the shop,

• List of asset on company letter head (no need for value),

• Evidence of filling current Annual Returns,

• Statement of account,

• List of vendors and their account numbers,

• Proforma receipts for drugs or items to be purchased.

There, you have it! You can visit the Fidelity Bank Branch to apply. And for more information, visit the official website at www.fidelitybank.ng/sme-banking/sme-loans-and-advances/.

Source: Nyscinfo

Updated: July 20, 2021 — 2:15 pm

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Humphery

Humphery is a seasoned internet entrepreneur and a life coach. He has been the Nyscinfo ambassador since 2017. He is knowledgeable enough to guide you. Keep following this website for updates, we love you!

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