First City Monument Bank (FCMB) has announced the opening of a new application round for its SheVentures proposition, offering zero-interest loans of up to N10 million to women entrepreneurs. The initiative aims to ease access to working capital and support business growth.
Loan Details and Structure
The facility provides loans ranging from N500,000 to N5 million under a general category, and N5 million to N10 million for sector-specific businesses. Funding is capped at up to 50 percent of an applicant's average monthly turnover. The core feature is a zero percent interest rate, with all charges embedded in a transparent structure. Repayment is structured over four or six months, allowing businesses to align obligations with their cash flow cycles.
Leadership Perspectives
Yemisi Edun, Managing Director and Chief Executive of FCMB, stated that 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,” Edun said.
Nnenna Jacob-Ogogo, Group Head of SheVentures and Impact Segments at FCMB, added, “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.”
