FCMB Extends N5m Interest-Free Loan For WIMBIZ

First City Monument Bank (FCMB) is providing interest-free loans of up to N5 million to entrepreneurs under the Bank’s SheVentures initiative for women in business (WIMBIZ) for three months.

In a statement by the Head of the SheVentures Team, Ms. Yetunde Moito, the bank said the extension is to reiterate its commitment to empower and propel Small and Medium scale Enterprises (SMEs) to greater heights.

In 2020, several female entrepreneurs across the country operating in various sectors, received loans ranging from N500,000.00 to N5 million from the lender, at zero interest rate, to grow their businesses.

Moito explained that under the latest support, which is starting from Abuja the  Northern region, qualified customers of the Bank have the opportunity to access between N500,000 and N5m within the three months tenor.

Eligible women are those in manufacturing, trading in locally produced items, solar energy financing, food processing, oil and gas, hospitality, education, healthcare, agribusiness, and fashion/garment making sectors.

Commenting, the Group Head, SME Banking, FCMB, Mr. George Ogbonnaya said: “We recognise the role of women as entrepreneurs, nation builders and catalysts for sustainable development. These noble efforts and roles of women have continued to inspire others and impact positively on job and wealth creation, poverty reduction, empowerment and the overall development of Nigeria.”