First City Monument Bank has launched a fresh round of applications for its SheVentures programme, offering zero interest loans to support women owned businesses across Nigeria. The initiative is aimed at helping female entrepreneurs gain easier access to funding and expand their operations.
According to the bank, eligible applicants can access loans ranging from N500,000 to N5m under the general category, while sector focused businesses may qualify for funding between N5m and N10m. The facility is designed to provide working capital support, with approved amounts capped at 50 per cent of the applicant’s average monthly turnover.
FCMB explained that the loans come with zero per cent interest, although charges are included within a transparent structure. Beneficiaries are expected to repay within four or six months, depending on the arrangement, allowing businesses to manage repayment alongside their cash flow.
Managing Director and Chief Executive Officer of FCMB, Yemisi Edun, said the programme reflects the bank’s commitment to inclusive economic growth and support for women led enterprises.
She noted that women entrepreneurs play an important role in economic activities but still face major challenges in accessing affordable financing. According to her, the initiative is designed to bridge that gap and encourage job creation, business expansion, and long term sustainability.
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively,” she stated. “Women led enterprises are critical to economic activity, yet they face structural barriers.”
The Group Head of SheVentures and Impact Segments at FCMB, Nnenna Jacob Ogogo, also stressed the importance of affordable financing for female business owners.
“Access to affordable finance remains a major constraint for women entrepreneurs,” she said. “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.”
FCMB stated that applications for the facility are currently open to women owned or women managed businesses registered in Nigeria. Applicants are also expected to meet certain requirements, including operating a business account with the bank and providing relevant business documentation.
The SheVentures programme was introduced to address financing challenges facing women entrepreneurs by combining access to loans with mentorship, training, and business support. Since its introduction, the initiative has continued to expand, with FCMB increasing the size of its funding pool to reach more women led businesses nationwide.
