First City Monument Bank has opened a fresh round of applications for SheVentures, its lending programme for women business owners, offering zero-interest loans up to N10 million to help them access working capital and grow their operations.
The facility, which FCMB's flagship banking arm is pushing as part of its commitment to women in business, allows entrepreneurs to borrow between N500,000 and N10 million without paying interest on the borrowed funds. This removes one of the biggest hurdles women face when trying to scale their businesses: the cost of borrowing.
Women entrepreneurs in Nigeria have long complained about difficulty accessing credit from traditional banks. Many lack the collateral banks demand, or they operate in sectors banks consider risky. SheVentures tries to change this by offering capital on better terms. The zero-interest structure means a woman can borrow N5 million, for example, and repay exactly N5 million over the loan period, without the additional burden of interest charges that would normally apply.
The programme sits within FCMB's broader push to support gender-inclusive growth in Nigeria's economy. The bank has positioned itself as a lender willing to take calculated risks on businesses run by women, betting that they will use the capital to create jobs and drive economic activity in their communities.
Applications are now open for interested women entrepreneurs. The bank has not yet specified the application deadline or the full terms of repayment, though those details typically come through FCMB's website and branch offices. Interested applicants can contact the bank directly or visit its website to learn more about eligibility requirements and the application process.
