Tabibu Solution

Sidian Bank in partnership with Medical Credit Fund East Africa provides tailor-made financial solutions to Hospitals, Pharmaceutical Companies, Pharmacies, Chemists and Medical Equipment Suppliers.

Over ten years of enabling private health care entrepreneurs realize their dreams, makes us your best financial partner to start and grow your business.

Features
  • Asset finance services
  • Construction finance services
  • NHIF discounting within 48 Hours
  • Working capital solutions
  • Insurance
  • SafeCare Certification for hospitals
  • Trade finance solutions
  • Salary processing
  • Mobile banking via SidianVIBE
  • Direct account deposits via paybill (#111999)
  • Internet banking
  • A dedicated relationship manager

Business Account

Best suited for limited companies, SMEs, corporates and sole proprietors with high turnovers.

Features
  • Opening balance of KES. 2,000.00, USD. 200.00 (FX equivalent of USD. 200.00)
  • No minimum balance
  • Ledger fee of KES. 300.00 (USD. 5.00) for the first 15 transactions and KES. 20.00 for each extra transaction
  • No limit to the number of withdrawals and deposits per day
  • This product is available in KES, USD, GBP and EURO
Benefits
  • Free access to the online banking platform
  • Salary processing platform (charges negotiable)
  • Retail/Corporate internet banking
  • Paybill/Till to bank deposit
  • Free inward RTGS
  • Cheque book facility
  • Direct deposit to the account via paybill number 111999
  • One free monthly e-statement
  • Dedicated relationship manager

Small Loan

KES. 500,000.00 – 1,500,000.00

Requirements
  • An active account held at Sidian Bank (not less than three months).
  • 6 months of statements from your previous bank
  • Operational Till/ Paybill number
  • Transfer of NHIF and insurance proceeds (For hospitals).
  • 3% Facility Fees
  • 1.5% annual renewal fees
Collateral
  • Chattels mortgage over business assets.
  • 75% MCF guarantee.

Medium Loan

Loan Limit: KES. 1,500,000.00-5,000,000.00

Requirements
  • An active account held at Sidian Bank(not less than three months )
  • 6 months of statements from your previous bank
  • Operational Till/ Paybill number
  • Transfer of NHIF and insurance proceeds (For hospitals).
  • 3% Facility Fees
  • 1.5% annual renewal fees
Collateral
  • Chattels mortgage over business assets
  • 75% MCF guarantee

Mature Loan

Loan Limit: KES. 5,000,000.00 -35,000,000.00

Requirements
  • An active account held at Sidian Bank(not less than three months )
  • 6 months of statements from your previous bank
  • Operational Till/ Paybill number
  • Transfer of NHIF and insurance proceeds (For hospitals).
  • 3% Facility Fees
  • 1.5% annual renewal fees
Collateral
  • 50% MCF guarantee.
  • 100% conventional security.
  • Negotiable based on client banking and loan repayment history with the bank.

Special Loans

Loan Limits: KES. 35,000,000.00 – 250,000,000.00

Requirement
  1. An active account held at Sidian Bank (not less than nine months )
  2. 12 months of statements from the previous bank
  3. Operational Till/ Paybill number
  4. Transfer of NHIF and insurance proceeds
  5. 3% Facility fees
  6. 1.5% annual renewal fees
Collateral
  1. 50% MCF guarantee.
  2. 100% conventional security.

NHIF Invoice Discounting

Bank to finance 80% of invoices payable by NHIF/ insurance Company/ Reputable organizations

Requirements

  • A statement of previous payments from NHIF (not less than six months)
  • Proof of Transfer of NHIF and insurance proceeds. (For hospitals)
  • 3% Facility fees for the entire period
  • 1% renewal fees per new drawdown within the 12 months
  • The active account held at Sidian Bank (not less than six months
Collateral
  • Chattels mortgage over business assets and machine to be bought.
  • MCF guarantee based on the amount requested
  • Letter of undertaking from NHIF and/or Insurance Companies/ Reputable organizations whose invoices are being discounted to transfer all proceeds to clients account held at Sidian Bank

Asset Finance

Up to KES. 5,000,000.00

Features
  • Up to 80% financing
  • Client contribution of 20% to be held by the bank throughout the process of purchase
  • Operational Till/Paybill number.
  • An active account held at Sidian Bank (not less than six months)
  • 12 months of statements from the previous bank
  • Transfer of NHIF and insurance proceeds. (for hospitals)
  • 3% Facility Fees
  • 1.5% annual renewal fees
Collateral
  • Chattels mortgage over business assets and machine to be bought.
  • MCF guarantee based on the amount requested
  • Debenture on the asset being financed

SME OFFERING

PRODUCT OFFERING TO THE SME SEGMENT

  1. Trade Finance offering
  2. Bid bonds: The bank supports our customers in the tendering process from beginning to end with unsecured bid bonds to the tune of KES. 50 million in 1 hour to obtaining performance bonds and advance payment guarantees and post-import financing if and when required.
  3. The bank prides itself in provision of these instruments through customer centric terms and fast turn-around time and flexible security structures.
  4. Invoice Discounting Solutions: As part of our trade finance offering, we also offer invoice financing to our customers against unpaid invoices.
  5. Supply chain financing: The bank supports its suppliers through supply chain financing by assisting suppliers optimize cash flow through guarantees to your providers assuring them of early payment in the event of cash flow constraints in the middle of your supply chain.
  6. Bank guarantees
  7. Letters of Credit
  1. Partnerships

African Guarantee Fund (AGF)

The bank has partnered with African Guarantee Fund (AGF) to support the growth of SMEs through provision of guarantees.

The guarantees are a solution for SME’s who have a collateral shortfall to secure their facilities.

What facilities are covered under AGF?

Trade finance facilities (Guarantees, LCs, Post-Import Finance Facilities, Pre-shipment Finance, LPO Financing, Invoice Discounting), Term loans, Overdraft Facilities, Asset Finance).

AGF offers security for transactions up to KES. 50 Million.

 

Medical Credit Fund (MCF) Partnership

Sidian Bank and MCF (Medical Credit Fund), the lending arm of PharmAccess Foundation, have been in partnership for over 10 years providing funding specifically for private healthcare providers, and the value chain.

The partnership offers the full range of solutions for healthcare providers; working capital finance, medical equipment finance, construction finance, insurance, retail solutions, trade finance, e.t.c.

  1. Digital Banking Solutions

Our robust digital banking solutions offer efficient and convenient banking solutions to our customers.

  1. Internet banking

The bank offers our customers corporate internet banking solution.

Through our corporate internet banking solution, our customers get access to salary processing system to pay your employees, iTax payments, eCitizen payments, bulk payments through Account to account and Account to M-Pesa payments, PesaLink transfers among other services.

  1. Lipa na M-Pesa service

The bank offers customers paybill and till number services that   is directly linked to the customer’s account to enable easy real-time settlement of payments made to your business. Funds paid and immediately settled into the customer’s account.

You can acquire a paybill and/or till number for your business in just 48 hours.

 

  1. Corporate Credit Cards

As part of our digital banking solutions, we offer corporate credit cards to our customers. Our customers can now apply for corporate credit cards which can be used internationally. The customer decides who in the company will access the corporate credit card. You can access the card immediately you open a corporate account.

 

  1. Personal Banking (Internet banking, SidianVIBE (Mobile Banking) and Credit/Debit Cards

For our individual customers who operate individual accounts, we offer individual digital banking solutions; internet banking, mobile banking (SidianVIBE) that we have recently launched together with Q-Loan (mobile loans), credit and debit cards.

 

  1. Insurance Services

Through Sidian Insurance Agency, we offer our customers comprehensive insurance covers for various aspects of your business to ensure that we are a one-stop shop for all your financial requirements. This will be coupled with the solutions that we will offer you:

  1. Trade Insurance
  2. Marine insurance
  3. Medical cover
  4. Travel insurance
  5. Domestic Package
  6. Motor Insurance (PSV, Commercial, Private)
  7. WIBA (Work injury benefits act)

 

  1. Asset Financing

The bank offers asset financing to our customers in form of equipment financing (hospital equipment), commercial and private motor vehicles.

The customer to bank ratio:

The bank finances 70-80% dependent on type of equipment: That is: specialized or non-specialized brand new or used.

  1. Treasury Services

We offer foreign exchange solutions with the best competitive rates in the market with a stable correspondent relationship for international money transfer.

Our products and services:

  1. Outward and inward forex remittances
  2. Cash transactions/Bureau de change
  3. FX denominated deposits and loans
  4. Foreign exchange demand drafts
  5. Forward exchange contracts for specified customers
  6. Current accounts in foreign currency (USD, GBP, EURO)
  1. Customer Training Programs

The success of our customer’s builds onto our success as a bank and therefore, we are constantly on the lookout for training programs that can refine our customers’ business skills in order to ensure sustained business growth of the enterprises.

We currently have two such partnerships with Strathmore Business School and Kenya National Chamber of Commerce (KNCCI)

         a) ISBI Institute Advanced Entrepreneurship Program

The bank has partnered with ISBI Institute at Strathmore Business School to provide a 12-week training program for SMEs and Entrepreneurs that is designed to help entrepreneurs detect execution gaps and explore optimization potential of their businesses.

The bank sponsors KES. 32,000 of the total fees which is KES. 144,000.

         b) KNCCI SME Hub

Together with Kenya National Chamber of Commerce (KNCCI), we are setting up SME Hubs that will be geared towards empowering the growth of SMEs. KNCCI and Sidian Bank will hold forums where entrepreneurs will get financial advisory and business expertise.

Would you like to open your Business Account today?