First City Monument Bank (FCMB) has launched a new phase of its SheVentures programme, introducing a zero-interest loan scheme of up to ₦10 million for women entrepreneurs across Nigeria.
The initiative is aimed at helping women-owned businesses overcome challenges linked to high borrowing costs and limited access to affordable finance, especially at a time many small and medium-sized enterprises (SMEs) are struggling with rising operating expenses.
Under the programme, eligible women entrepreneurs can access between ₦500,000 and ₦5 million under the general category, while businesses in selected sectors can obtain between ₦5 million and ₦10 million.
FCMB explained that the loan amount available to each applicant will be determined by up to 50 per cent of the business’ average monthly turnover.
The bank stated that the facility comes with zero per cent interest, while all charges are already built into a transparent pricing structure to help business owners avoid hidden costs. Repayment will run for either four or six months, depending on the agreement, allowing entrepreneurs to manage repayments in line with their cash flow.
Speaking on the launch, FCMB Managing Director and Chief Executive Officer, Yemisi Edun, said the programme reflects the bank’s commitment to supporting inclusive economic growth through better access to capital for women-led businesses.
“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,” Edun said.
Also speaking, Group Head, SheVentures and Impact Segments at FCMB, Nnenna Jacob-Ogogo, said affordable financing remains one of the biggest obstacles facing women entrepreneurs in Nigeria.
“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,” she said.
FCMB added that beyond funding, the SheVentures programme also offers business support services designed to strengthen women-led enterprises, encourage innovation and improve competitiveness.
The bank confirmed that applications are now open to qualified women entrepreneurs nationwide.
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