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Overview
| Donor: | Medical Credit Fund |
| Application procedure: | Online Application |
| Donor base: | Netherlands |
| Reference number: | - |
| Eligible applicants: | Non-Profit Organisation, Social Business |
| Deadline: | ongoing |
Financial details
| Grant size: | Large - more than $1,000,000 |
| Minimum grant size: | 1.000$ |
| Total available budget: | - |
| Funding type: | Loans, Other |
| Maximum grant size: | 2.500.000$ |
| Funding ratio: | up to 100% |
Sectors
- Capacity Building
- Health
- Social Inclusion
Project Locations
Africa
Ghana, Kenya, Nigeria, Tanzania
Description
1) Objective
The Medical Credit Fund (MCF) is a non-profit health investment fund that was founded in 2009 by PharmAccess International. It supports private healthcare facilities in Africa obtaining capital to strengthen and upgrade their operations in order to enhance access to affordable quality healthcare. The Fund’s primary objective is to increase the delivery of affordable quality healthcare services by reducing the investment risk. To achieve this objective, the Fund provides performance-based financing in combination with technical support to eligible private primary healthcare providers.
The selected health facilities participate in a medical and business quality improvement program which will strengthen their business case and debt servicing capacity, and reduce credit and medical risk. To achieve its objectives, the Fund’s investment strategy is via two programs: (1) the Finance Program and (2) the Technical Assistance (TA) Program. The TA Program contains quality improvement and business planning while the Finance Program provides access to loans.
2) Eligibility
Eligible are: (1) Healthcare SMEs: hospitals, health centers, dispensaries, maternity homes and nurse-driven clinics; (2) Specialist care providers: diagnostic centers, laboratories, and pharmacies; and (3) Healthcare businesses catering to health facilities, distributors of drugs, training institutes and equipment providers.
3) Location
Current focus countries are Tanzania, Ghana, Kenya, Uganda and Nigeria (aiming to expand further into Sub-Sahara Africa).
4) Budget
MCF offers loans varying from $1,000 to a maximum loan size of $2,500,000. It has already provided US$ 150 million in loans to over 1,800 companies.
5) Application
Interested organisations/businesses can apply for a loan via the online application form available on their website.