Home Bank FCMB Offers A Free Business Loan For Women In Nigeria

FCMB Offers A Free Business Loan For Women In Nigeria

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Loan For Women

It is unfortunate that we live in a world in which women are mostly looked down upon. The society is not built to favor women in most countries. FCMB understands this and has introduced a support system for Nigerian women who own or run a business with the FCMB SheVenture program. FCMB is offering a possibly zero interest rate and maintenance fee free business loan to Nigerian women.

What Is FCMB SheVentures Loan For Women

SheVentures 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 loan is a loan facility made available by FCMB to help Nigerian Business women grow their businesses.

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 has a zero interest rate for short term loans. Which means that you will be paying back capital only and nothing else.

For women who cannot access the zero interest rate offer, the general SheVenture loan is pegged at 15% per annum. This means, for every year under the duration of the loan, the total amount to be repaid appreciates by 15% until it is paid back in full. And one can access up to N100,000,000 (100 million Naira) depending on the size of one’s business.

Why Nigeria Women Should Choose This Business Loan from FCMB

1. Access to finance for their business

Investors in Nigeria are known to be less interested in giving funds to women in business. This makes it difficult for Nigerian women in business to access funds in a bid to support their businesses. This loan goes around that to deliver loans to women who own or are currently running businesses in Nigeria.

2. Balanced View of Women In Business

Women face discrimination and little or no respect in the business sector. But that does not mean they will not do well if given the opportunity. This business loan facility from FCMB make it possible to create a balanced view for women in the business community and provide equal opportunities for success by women in the business community.

3. Managing Career And Family

In Nigeria, the women are saddled with the responsibility of taking care of the home, yet some of them own businesses , some are pursuing careers. This makes life a little bit more difficult for them as they have to balance their home activities with their work life. FCMB’s loan facility is meant to help these women pursue their careers, run their businesses, without stress coupled with family responsibilities.

4. Money Management and Financial Knowledge

In previous generations, most women did not have access to an education. This made it difficult for those women to have access to financial and business training. FCMB offers trainings and professional courses to help women who apply for this loan facility.

5. Network support system

Meeting people with like minds and motivation is one way to help boost morale. FCMB provides this for all women who apply for this loan facility. They are given opportunities to meet other women who are like minded and will give that support structure they need.

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 at 13% 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 attracts a 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, 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 with minimum at N500,000.
  • Target Market: This business loan is targeted at women who own and run business in Nigeria.

3. Mentorship and Capacity Building: FCMB provides support structures by providing programs and seminars to help their clients grow their business. Women who take this loan facility are given opportunities to structure and stabilize their businesses via contact with consultants at discounted rates. With a network of mentors to provide guidance, emotional support, motivation and role modelling, success is assured for ladies who take these loan facilities.

4. Networking Events: FCMB regulalry sponsors events to aid networking between the women who take their loan facilities.

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.

Business Loan For Women Business Loan For Women Business Loan For Women Business Loan For Women

Conclusion

In a world dominated by men FCMB is giving women a shot through the SheVenture program. Here they get to truly pursue their dreams and get treated with equal rights 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 the business sector with low or zero interest loans to help them grow their business.

You might know some women who need this type of loan facilities for their business. Please use the share buttons below to share this posts on Facebook, Twitter and Pinterest or other social networking sites.

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