First City Monument Bank has opened applications for fresh funding under its SheVentures initiative. Women entrepreneurs can now access zero-interest loans of up to ₦10 million.
Borrowers in the general category qualify for ₦500,000 to ₦5 million. Sector-specific businesses can apply for ₦5 million to ₦10 million instead.
Loan amounts max out at half of an applicant's average monthly turnover. All charges follow a transparent fee structure with no interest whatsoever.
Repayment periods span either four or six months. This flexibility lets businesses align payments with their own cash flow patterns.
Yemisi Edun, FCMB's managing director and chief executive, described the scheme as deliberate inclusive growth in action. According to him, women-led enterprises drive Nigeria's economy yet confront structural barriers to financing.
"This intervention closes that gap," Edun noted. "We're providing capital that supports job creation, expansion, and long-term sustainability for women entrepreneurs."
Nnenna Jacob-Ogogo heads SheVentures and Impact Segments at the bank. She stressed that affordable finance remains elusive for most women business owners.
"Removing the cost barrier matters," Jacob-Ogogo told reporters. "Quick, flexible funding protects jobs, enables growth investment, and builds resilience during economic strain."
Women-owned businesses make up a substantial portion of Nigeria's SME sector. Yet they struggle with high borrowing costs and restricted credit access.
SheVentures combines targeted funding with broader support mechanisms. It aims to empower women entrepreneurs, spark business innovation, and strengthen their competitive edge nationally.
Interested applicants can submit their proposals now. The bank is actively accepting applications for this zero-interest loan facility.
