In a world where women are mostly looked down on, FCMB is trying something new and different for Nigerian women with the FCMB She Venture program. FCMB is offering a possibly zero interest rate and maintenance fee free business loan to Nigerian women. It is known as the FCMB SheVentures and it is targeted at Nigeria women who own business.
What Is FCMB SheVentures Loan For Women
SheVentures or She Ventures as the name implies is a business loan offered by FCMB to women who are bold enough to enter into the business space that is dominated by men. The FCMB SheVentures or She Ventures is a loan facility made available by FCMB to help Nigeria Business women grow their business.
If you are woman living in Nigeria and you own a business you can easily use this offer from FCMB to grow your business. The most interesting part is that this loan offer have zero interest rate. Which means that you will be paying back only the capital and nothing else.
But if you can’t access the zero interest rate offer, the genera She venture loan is pegged at 15% per annum or yearly. This means that every year you get to pay back 15% of the loan to FCMB. And you can access up to N100, 000, 000 (100 million naira) depending on the size of your business.
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Why Nigeria Women Should Choose This Business Loan from FCMB
1. Access to finance for their business
Most investors don’t take business women seriously and this have made Nigeria women have less access to finance. But that is about to change with this FCMB business loan for women.
2. Balance View of Women In Business
Women face discrimination and little or no respect in the business sector. But that does not mean they won’t do well if given the opportunity. With this business loan for women, FCMB is trying to keep a balance view of women and giving them equal opportunity to thrive in business as the men.
3. Managing Career And Family
Women are usually charged with the responsibility of taking care of the home. But they also have dreams and want to pursue a career. And FCMB is using this business loan to help them pursue their career couple with the family responsibilities with ease
4. Money Management and Financial Knowledge
Lack of financial education and proper money management education is one major set back for women in the business world. FCMB will be offering training and professional courses to help women who applied for this business loan excel in business.
5. Network support system
Meeting people with like minds and motivation is one way to help boost morale. FCMB is providing this for all women who apply for this business loan. They have an opportunity to meet other people who are like minded and get to network.
Features And Benefits Of FCMB SheVentures/ She Ventures
1. FCMB BOI Gender Loan: BOI means “Bank of Industry” and the funds that will be accessed through the BOI will attract a 15% interest every year.
Below are some of the features when you also apply for the BOI funds
- Interest rate of 15% per annum (all charges/fees inclusive)
- Tenor of up to 4 years
- Maximum loan amount of N100,000,000
There are terms and conditions attached with the above. So be sure to ask FCMB for these terms before you proceed with the application.
2. Zero Interest Loan: In some cases this business loan for women attract zero interest rate from FCMB.
Some of the features of the Zero Interest Loan includes:
- Attracts an Interest rate of 0% (all charges/fees inclusive)
- Duration of loan under the zero interest rate is 3 month at maximum. The payment circle depends on the cash flow of the borrower.
- Amount You Can Borrow: you can borrow up to 50% of your monthly turn over. This means that if your business monthly turn over is N1, 000, 000 then you can borrow N500, 000. The maximum loan under the zero interest loan is N5, 000, 000 and the minimum is N500, 000.
- Target Market: This business loan is targeted at women who owned and run business in Nigeria.
3. Mentorship and Capacity Building: FCMB will link you to programs and seminars for you to grow your business. Invites to events where you’ll meet and partner with people to help grow your experience and your business.
4. Networking Events: FCMB also sponsors various networking events where female entrepreneurs can network, cross sell and open new business avenues.
5. Insurance Packages: This is one way FCMB helps women who applied for this business loan. They provide Insurance to cover for your child’s education, health and other related issues.
Who Can Apply For FCMB Business Loan for Women
Only women who owns and run a business can apply for this business loan from FCMB. Salary earners and men can not apply for this business loan offer.
How To Apply For FCMB SheVentures Buisness Loan For Women
First you need to get a business account with FCMB to apply. You will be asked to fill and submit a form online. See screenshots of what you are expected to fill below.
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In a world dominated by men FCMB is giving women a shot through the SheVenture or She Venture program. Here they get to truly pursue their dreams and get treated with equal right as the men.
Women can excel in Business and that is what FCMB and other Nigeria banks believe, Hence they are out to support women in business sector with low or zero interest loans to help them grow their business.
You might know some woman who needs this type of business loan for her business. Please use the share buttons below to share our posts on Facebook, Twitter and Pinterest.