First City Monument Bank (FCMB) has launched a fresh application window for its SheVentures programme, a zero-interest lending offer designed to help women entrepreneurs in Nigeria secure working capital and accelerate business growth. The bank is making up to ₦10 million available, with repayment terms planned to align with how small businesses typically generate cash.
Details of the zero-interest SheVentures loans
The SheVentures facility provides funding for women-led enterprises, with loan sizes and eligibility structured around both general business needs and sector-focused activities.
- Loan amounts can range from ₦500,000 to ₦5 million under a general category.
- Sector-specific businesses can apply for loans between ₦5 million and ₦10 million.
- Funding is capped at up to 50% of an applicant’s average monthly turnover.
- The interest rate is set at 0%, with any associated charges presented in a transparent structure rather than added as interest.
- Repayment is scheduled over either four or six months to better match businesses’ cash flow cycles.
Bank’s rationale: inclusive finance and job creation
FCMB framed the programme as part of a broader strategy to widen access to capital while improving the conditions under which businesses can deploy funds effectively.
Yemisi Edun, Managing Director and Chief Executive of FCMB, said the initiative is intended to strengthen inclusive growth by addressing structural obstacles that women entrepreneurs face in accessing finance.
Edun said: “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.”
Affordability and speed of funding
FCMB also pointed to the ongoing challenge of high borrowing costs for women entrepreneurs, emphasising that the programme removes the cost burden and provides funding designed to be flexible for business needs.
Nnenna Jacob-Ogogo, Group Head of SheVentures and Impact Segments at FCMB, said the zero-interest structure is meant to protect existing jobs and support new investment.
Jacob-Ogogo said: “Access to affordable finance remains a major constraint 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.”
Why SheVentures targets women-led SMEs
The bank noted that women-owned businesses represent a significant portion of Nigeria’s small and medium-sized enterprise base, but many still struggle with limited credit availability and comparatively expensive financing.
- Women-led SMEs are a major part of Nigeria’s SME landscape.
- Despite their scale, many face high borrowing costs and limited access to credit.
- SheVentures is intended to close persistent funding gaps by directing support toward women entrepreneurs.
- The programme combines targeted financing with broader empowerment aimed at encouraging business innovation.
- FCMB said the end goal is to improve women entrepreneurs’ ability to compete at a national level.
Applications open now
FCMB said applications for the zero-interest SheVentures loan are now open, inviting eligible women entrepreneurs to submit requests for working capital under the stated loan ranges and turnover-based funding cap.
