FirstBank launches single-digit loan for women-owned businesses




In furtherance of its role in promoting female entrepreneurship across the country, Nigeria’s premier banking institution and leading financial inclusion services provider, First Bank of Nigeria Limited, has launched the FirstGem fund (FirstGem loan); a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.

The FirstGem loan scheme is designed for female-owned or partnered SMEs in the following sectors Food/Beverage processing & Packaging, Beauty and cosmetics, Confectionaries, Catering & Restaurants, Transportation (Logistics) and Agric/Agro-Allied (retail value chain). With an interest rate of 9 per cent per annum, FirstGem loan is a collateral-free loan that is available to the bank’s existing and prospective female customers. Based on eligibility, customers can access loans from N500,000.00 to N3,000,000.00.

To access the loan, Female owned or partnered SMEs can visit the Bank’s website – https://www.firstbanknigeria.com/personal/loans/more-financing-options/firstgem-funds/ – to download and fill out the Retail Loan Application Form. The completely filled form should be submitted to the nearest FirstBank branch with accompanying documents.

Speaking on the loan Folake Ani-Mumuney, Group Head, First Bank of Nigeria Limited said, “we are delighted with the role our FirstGem product plays in creating an avenue to enlarge the business activities and endeavours of female entrepreneurs across the country.

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