FCMB offers N10m zero-interest loans to women entrepreneurs

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to N10 million to women entrepreneurs to ease access to working capital and support business growth. In a statement, the initiative provides loans ranging from N500,000 to N5 million under a general category, and […]

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to N10 million to women entrepreneurs to ease access to working capital and support business growth.

In a statement, the initiative provides loans ranging from N500,000 to N5 million under a general category, and N5 million to N10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

It added that repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

The bank’s Managing Director and Chief Executive Yemisi Edun said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively. Women-led enterprises are critical to economic activity, yet they face structural barriers. 

“This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs,” she said.

The Group Head, SheVentures, and Impact Segments at First City Monument Bank (FCMB) Nnenna Jacob-Ogogo said access to affordable finance remains a major constraint for women entrepreneurs.

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions,” she said.

 

 

 

She stressed that women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

 

 

 

“Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale,” she said.