MediLoan : Understanding the Gradual Repayment Structure

The BizNurture MediLoan is a loan option with a discounted interest rate for businesses in the healthcare sector. The purpose of the product is to help beneficiaries cover funding while they invest in quality healthcare services and products as well as focus on their patients and practice. This will help support the fight for good health and provide support in the fight against COVID-19. 

This loan is available to :

  • Private Hospitals, clinics, diagnostic centers that are registered with reputable HMOs and have operated for a minimum of 2 years.
  • Pharmacies either owned by a registered pharmacist or have a resident pharmacist with professional qualifications and license to prescribe drugs. The Pharmacist (or resident pharmacist) must be duly registered with the Pharmaceutical Council of Nigeria (PCN).

Other beneficiaries of the MediLoan include; Private Hospitals, Laboratories, and Medical Diagnostic Centres, Pharmaceutical Companies, Dentists, Medical doctors, Veterinarians, Optometrist, Diagnostic Labs, Pharmacies, Medical laboratories, etc.

Why Mediloan

The rationale for this product is based on the need to provide universal health coverage services under the umbrella of healthcare providers, enhance quality healthcare, and improve access to healthcare services. Hence, the reason why BizNurture’s MediLoan comes at a discounted interest rate. 

Whether you need a piece of new equipment, drugs, pharmaceutical products, medical technology, preventive gear, or the upgrade of patient facilities, a loan could help achieve those objectives.

With this in consideration, the repayment system for the MediLoan has been designed to fit your needs. It is a gradual repayment system. Repayments gradually rise over the lifespan of the loan. That is, it is lower at the beginning of the loan tenor, and then increases towards the end of the tenor till the loan is completely paid off.

Graduated Repayment Plan

The graduated repayment system is a loan repayment system where the repayment term involves gradual increases in the payments over the period of the loan tenor. A graduated repayment system lets the borrower make smaller payments on their loan at the start of loan tenor and it gradually increases towards the end of the loan tenor. Our other loans- Working Capital Loan, LPO Financing, Invoice Discounting, FemPreneur loan, and Edubiz Loan, run on a standard repayment plan, where you pay the same fixed amount each month for the length of the loan tenor. On a graduated repayment plan, your payments will be lower at the beginning than what you would pay if you were to stay on the standard plan, but never too low that you aren’t paying the amount of interest that is accruing each month.

The Benefit Of A Graduated Repayment Plan?

There are benefits to the graduated repayment plan. The main benefit is that your payments will be low for the first few months of repayment, giving you space to focus on your practice and utilizing the loan effectively. 

Payments will increase over time, but if you make monthly payments regularly, you’ll finish paying off your debt relatively quickly. 


You can pre-liquidate your MediLoan, and in the event where pre-liquidation occurs, there would be no pre-liquidation charges.

Loan Requirements

The following requirements and documents would be required to process a MediLoan application.

  • Must be located in Port Harcourt and Lagos
  • Must be 2 years or more in the healthcare business
  • Pharmacies either owned by a registered pharmacist or having a resident pharmacist with professional qualification and license to prescribe drugs. 
  • Pharmacist (or resident pharmacist) must be duly registered with the Pharmaceutical Council of Nigeria (PCN).
  • Request letter on letterhead
  • CAC documents
  • 6 months bank statement
  • Copy of LPO to be financed / invoice to be discounted
  • Copy of valid ID card
  • Guarantors (these are only required after the loan has been approved)
  • If a Business Name, two 3rd parties must guarantee the business owner
  • If a Limited Liability Company, the MD must guarantee the loan, as well as a 3rd party.

*depending on the type of loan, additional documents may be required

Let BizNurture's MediLoan be your funding source. Click here to apply now.