FCMB Opens SheVentures Zero-Interest Loans Up to ₦10 Million for Women

First City Monument Bank has opened a new application round for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs in Nigeria. The initiative targets structural barriers and high borrowing costs that have long constrained women-led small and medium-sized enterprises, which account for a significant share of Nigeria's SMEs despite persistent financing gaps.

The program provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses. Funding is capped at 50% of an applicant's average monthly turnover, and all charges are embedded transparently at a 0% interest rate. Repayment is structured over four or six months to align with business cash flow cycles.

FCMB Managing Director Yemisi Edun described the initiative as a deliberate approach to inclusive growth, noting that women-led enterprises face systemic barriers to capital. Nnenna Jacob-Ogogo, Group Head of SheVentures and Impact Segments, said removing the cost barrier aims to safeguard existing jobs and foster business resilience. The program focuses on job creation, business expansion, and long-term sustainability for women-owned businesses across Nigeria.