APPLY: FCMB Offers Up to N10m Interest-Free Loans to Women-Led Businesses

First City Monument Bank 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.

The FCMB facility 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 per cent of an applicant’s average monthly turnover.

At the centre of the offering is a zero per cent interest rate, with all charges embedded in a transparent structure. Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, managing director and chief executive of FCMB, 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.

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, group head, SheVentures and Impact Segments at FCMB.

“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,” Ogogo said.

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