First City Monument Bank (FCMB) has launched a new round of applications for its SheVentures programme, offering zero‑interest loans of up to ₦10 million to women‑owned enterprises. The facility aims to ease access to working capital, support business growth and address the financing gap that many female entrepreneurs face in Nigeria.
The SheVentures loan product is divided into two tiers. General‑category loans range from ₦500,000 to ₦5 million, while sector‑specific loans are available from ₦5 million to ₦10 million. In either case, the maximum loan amount is limited to 50 % of the applicant’s average monthly turnover, ensuring that the funding aligns with the business’s cash‑flow capacity.
All loans are offered at a 0 % interest rate, with fees incorporated into a transparent cost structure. Repayment periods are set at either four or six months, allowing borrowers to match instalments with their operating cycles. The short‑term nature of the product is intended to provide quick, flexible financing without the burden of high interest charges.
Yemisi Edun, Managing Director and Chief Executive of FCMB, described the scheme as part of the bank’s “deliberate approach to inclusive growth.” Edun noted that women‑led businesses are vital to the economy but often encounter structural barriers that limit their access to capital. By removing the cost barrier, the bank hopes to stimulate job creation, business expansion and long‑term sustainability for female entrepreneurs.
Nnenna Jacob‑Ogogo, Group Head of SheVentures and Impact Segments at FCMB, added that affordable finance remains a major constraint for women‑owned firms, which constitute a substantial share of Nigeria’s small and medium‑sized enterprises (SMEs). “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.
The SheVentures initiative is part of a broader effort by FCMB to address persistent financing gaps for women‑led businesses. In addition to the loan programme, the bank offers mentorship, networking opportunities and capacity‑building workshops to help entrepreneurs improve operational efficiency and scale their operations.
Applications for the zero‑interest loan are now open, and interested parties can apply through the FCMB website or designated branches. The programme is expected to boost the competitiveness of women‑owned SMEs and contribute to broader economic inclusion in Nigeria.
