Medical Credit Fund (MCF) has been awarded for the 2021 Finance for the Future Awards, in the category: ‘Moving Financial Markets’. This award recognizes organizations and innovations within the finance community helping to drive sustainable economies.
Arjan Poels, Managing Director MCF: “Winning this award is a great recognition of our work. Winning is a team effort and I’d like to thank our partners mainly the Dutch Ministry of Foreign Affairs and tech partner CarePay. Through our loans and Technical Assistance, we have already impacted over 2000 health SMEs, many of which serve rural, low-income patient groups. We recently launched our second MCF fund and are planning to impact many more healthcare providers in sub-Saharan Africa”.
MCF was awarded in the Moving Financial Markets category for its loan product Cash Advance. This product provides healthcare providers with flexible working capital loans and easy onboarding through their mobile phone. The repayment is linked to the borrower’s revenues and processing times are less than 24 hours. Cash Advance requires no collateral – making it particularly popular amongst remote and small healthcare providers, many of whom are women.
The Finance for the Future Awards is founded by the Institute of Chartered Accounts of England and Wales, (ICAEW) which has over 187,000 accountant and student members and the Accounting for Sustainability (A4S), an organization established by HRH The Prince of Wales, aiming to scale up action to transition to a sustainable economy. The 2021 award partners include Deloitte and SSE.
The Moving Financial Markets category recognizes organizations that have investment activities, products and services that contribute to building a more sustainable financial system. The seven other finalists in this category included the global risk assessment firm Moody’s, the Swiss private bank Globalance and UK-based asset manager Intermediate Capital Group.
For more information about the awards and the other winners visit the website of Finance for the Future.