As usual, I will be using my blog to promote tools and resources that can help startups and small businesses grow. Businesses need funding to expand and though loathed one of the cheapest source of funding is debt finance.
Fidelity Bank Plc has created a product called “Fidelity Pharmacist Support Facility (FPSF) which is mean to help Pharmacists “take their practice to the next level” as they put it. Anyway, features of the facility include;
- Moratorium Period before repayment starts – which I believe means borrowers will not need to repay the loans immediately.
- They also promise to offer flexible repayment structure – I hope that means loans can be for a longer tenor and spread in such a way as to produce better DSCR for the borrowers
- No “Tangible Collateral” is required – Banks have a way with words really. Anyway, in Accounting terms, Tangible Assets are Property Plants and Equipments, Cash, Stock etc.
How deos this work?