First City Monument Bank (FCMB) has launched a new round of applications under its SheVentures initiative, offering zero-interest loans of up to ₦10 million to support women entrepreneurs and expand access to affordable business financing in Nigeria.
Under the programme, general business applicants can access funding ranging from ₦500,000 to ₦5 million, while sector-specific enterprises may qualify for facilities between ₦5 million and ₦10 million. Loan approvals are capped at 50% of the applicant’s average monthly turnover to ensure sustainable borrowing and repayment.
FCMB stated that the financing comes with a 0% interest structure, with all associated charges embedded transparently. Beneficiaries are expected to repay within four or six months, providing flexibility for businesses to align repayments with their operating cash flow cycles.
Speaking on the initiative, FCMB Managing Director and Chief Executive Officer, Yemisi Edun, said the programme reflects the bank’s commitment to inclusive economic growth and women’s economic empowerment. She noted that women-owned enterprises remain a vital part of Nigeria’s economy despite facing persistent structural barriers to financing.
Also commenting, Nnenna Jacob-Ogogo said the intervention was designed to remove cost barriers and provide quick, flexible funding that can help women entrepreneurs preserve jobs, expand operations, and strengthen resilience amid difficult economic conditions.
FCMB’s SheVentures platform combines financing with mentorship, networking opportunities, and capacity-building programmes aimed at helping women-led businesses scale sustainably. The initiative has become one of the bank’s flagship inclusion programmes targeting female entrepreneurs across multiple sectors.
Industry observers say the move comes at a critical time when many small and medium-sized enterprises (SMEs) continue to struggle with high borrowing costs, inflationary pressures, and limited access to affordable credit. The availability of interest-free facilities is expected to ease working capital constraints for many women-owned businesses. Applications for the latest funding round are currently open to eligible women entrepreneurs nationwide.
