First City Monument Bank (FCMB) has reopened applications for its SheVentures programme, offering zero‑interest loans of up to ₦10 million to women‑owned small and medium‑sized enterprises (SMEs). The facility is designed to improve access to working capital, support business expansion and mitigate the high borrowing costs that many female entrepreneurs face in Nigeria.
Under the scheme, loans between ₦500,000 and ₦5 million are available to general‑category businesses, while sector‑specific enterprises can receive amounts ranging from ₦5 million to ₦10 million. Funding is capped at a maximum of 50 percent of the applicant’s average monthly turnover, ensuring that loan sizes remain proportionate to cash‑flow capacity.
All financing is provided at a 0 % interest rate, with fees incorporated into a transparent cost structure. Repayment terms are flexible, allowing borrowers to choose either a four‑month or a six‑month schedule that aligns with their revenue cycles.
Yemisi Edun, Managing Director and Chief Executive of FCMB, said the programme reflects the bank’s commitment to inclusive growth. “Access to capital and the right conditions for its deployment are essential for inclusive growth,” Edun said. “Women‑led enterprises contribute significantly to the economy but encounter structural barriers. This intervention aims to close that gap by financing job creation, business expansion and long‑term sustainability for women entrepreneurs.”
Nnenna Jacob‑Ogogo, Group Head of SheVentures and Impact Segments at FCMB, added that affordable finance remains a major constraint for women‑run businesses. “By removing the cost barrier and offering quick, flexible funding, this zero‑interest loan safeguards existing jobs, enables investment in growth initiatives and builds resilience in a challenging economic environment,” she explained.
Women‑owned firms constitute a sizable portion of Nigeria’s SME sector, yet they often face higher borrowing costs and limited credit access compared with their male‑led counterparts. The SheVentures programme seeks to address these financing gaps by coupling targeted funding with broader support services, thereby enhancing the capacity of women entrepreneurs to innovate and compete nationally.
Applications for the zero‑interest loans are now open. Interested entrepreneurs can apply through FCMB’s digital channels or designated branches. The bank expects the programme to stimulate entrepreneurship, preserve jobs and contribute to broader economic development.
