First City Monument Bank has opened applications for a new round of its SheVentures programme, offering zero-interest loans of up to ₦10 million to women entrepreneurs to improve access to working capital and support business growth.
FCMB
The bank said the initiative was designed to address financing challenges faced by women-led businesses, which continue to encounter high borrowing costs and limited access to affordable credit despite accounting for a significant portion of Nigeria’s small and medium-sized enterprises (SMEs).
Under the scheme, eligible applicants can access loans ranging from ₦500,000 to ₦5 million under the general category, while sector-specific businesses can obtain between ₦5 million and ₦10 million.
According to the bank, the funding is capped at up to 50 per cent of an applicant’s average monthly turnover.
The facility comes with a zero per cent interest rate, with all charges incorporated into a transparent pricing structure. Repayment is spread over four or six months to allow businesses align obligations with their cash flow cycles.
Managing Director and Chief Executive Officer of FCMB, Yemisi Edun, said the intervention reflects the bank’s commitment to inclusive growth and economic empowerment.
“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.
Also speaking, Group Head, SheVentures and Impact Segments at FCMB, Nnenna Jacob-Ogogo, said access to affordable finance remained a major challenge 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.
FCMB noted that beyond access to funding, SheVentures also provides broader business support services aimed at strengthening women-led enterprises, encouraging innovation and improving competitiveness.
The bank said applications for the zero-interest loans are now open to qualified women entrepreneurs across the country.
