First City Monument Bank has announced a fresh round of applications for its SheVentures programme, offering zero-interest loans of up to N10 million to support women-owned businesses across Nigeria.
According to the bank, the initiative is aimed at improving access to working capital and helping women entrepreneurs grow and sustain their businesses.
Under the programme, applicants can access loans ranging from N500,000 to N5 million under the general category, while businesses operating in selected sectors can obtain between N5 million and N10 million. The funding available is capped at 50 per cent of the applicant’s average monthly turnover.
Although the facility comes with zero per cent interest, the bank stated that all charges are embedded within a transparent structure. Repayment plans are spread across four to six months to allow businesses align repayments with their cash flow.
Managing Director and Chief Executive Officer of First City Monument Bank, Yemisi Edun, said the programme reflects the bank’s commitment to inclusive economic growth.
She noted that women-led businesses remain vital to Nigeria’s economy despite facing several structural and financial challenges.
“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,” she said.
Edun added that the intervention is designed to support job creation, business expansion, and long-term sustainability for women entrepreneurs.
Also speaking, Nnenna Jacob-Ogogo said access to affordable finance continues to be one of the biggest obstacles confronting women-owned businesses.
She explained that the zero-interest loan initiative was created to remove financing barriers, protect jobs, and help businesses remain resilient despite economic challenges.
The bank noted that women-owned businesses account for a large portion of Nigeria’s small and medium-scale enterprises but still struggle with high borrowing costs and limited access to credit facilities.
The SheVentures programme combines targeted financing with business support services aimed at improving the competitiveness and sustainability of women-led enterprises.
Applications for the loan programme are currently open.
