The arrangement will result in short-term funding for the mobile health technology provider.
It will fund G Medical’s inventory, medical devices and working capital requirements.
Specialist in mobile e-health solutions
The company, which was founded in August 2014, specialises in innovative next-generation mobile and e-health solutions and services.
It does so by using its suite of devices and software solutions with a view to driving multiple and recurring revenue streams, across numerous verticals and territories.
Loan repayable in 12 months
Geva’s loan will bear interest of 10% per annum with a repayment date of April 30, 2019, and is unsecured.
The company has the option to fully repay the loan at its own discretion during the 12 month period.
G Medical’s Board is of the view that the loan terms are substantially better than those available from commercial lenders and that the agreement is otherwise on arms’ length terms.