FCMB Reopens SheVentures Programme with Zero-Interest Loans of Up to N10 Million to Empower Women Entrepreneurs

First City Monument Bank (FCMB) has officially announced the opening of a new application round for its SheVentures proposition, a financing initiative specifically designed to support women-led businesses across Nigeria. Under this programme, the bank is offering zero-interest loans as high as N10 million to female entrepreneurs, aiming to improve access to working capital and drive sustainable business growth.

In a statement released on Tuesday, the bank explained that the facility is structured to accommodate businesses of varying sizes and needs. The general loan category ranges from N500,000 to N5 million, while a sector-specific category provides funding between N5 million and N10 million for businesses operating in targeted industries. To ensure responsible lending, the total loan amount is capped at 50 per cent of each applicant’s average monthly turnover.

One of the most attractive features of the SheVentures offering is its zero per cent interest rate. Rather than imposing traditional interest fees, the bank has embedded all charges within a transparent fee structure. Repayment periods are set at either four or six months, allowing women entrepreneurs to align their repayment schedules with their natural business cash flow cycles, thereby reducing financial strain.

Speaking on the initiative, Yemisi Edun, the Managing Director and Chief Executive of FCMB, emphasised that the programme reflects a deliberate and strategic approach to fostering inclusive economic growth. “Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively,” she said. She further noted that women-led enterprises are critical to economic activity, yet they continue to 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.”

Similarly, Nnenna Jacob-Ogogo, Group Head of SheVentures and Impact Segments at FCMB, highlighted that 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,” she stated.

It is worth noting that women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises (SMEs). However, they continue to face high borrowing costs and limited access to credit under conventional financing models. The SheVentures programme is specifically designed to address these financing gaps by combining targeted funding with broader support mechanisms aimed at strengthening the capacity and competitiveness of women-led businesses. FCMB has confirmed that applications for this zero-interest loan round are now open.