In its continued effort to support women entrepreneurs in Nigeria, Firstbank has launched a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.
Tagged ‘FirstGem fund (FirstGem loan)’, the loan scheme covers female-owned or partnered SMEs in various sectors of the economy. It has been impactful in driving financial inclusion, influencing women’s empowerment through gender-advancement programmes like savings culture, financial literacy, wealth management and building an investment portfolio.
“We are delighted with the role our FirstGem product plays in creating an avenue to enlarge the business activities and endeavors of female entrepreneurs across the country,” said Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications at First Bank of Nigeria Limited.
She explained that FirstGem value proposition offers real solutions to constraints encountered by female entrepreneurs and working professionals, as it exposes women to opportunities for the advancement of their business. “We implore every female business-minded individual to take advantage of the FirstGem loan as it puts them at an advantage to contribute their quota to the national economy,” she added.
The FirstGem loan scheme is designed for female-owned or partnered SMEs in the following sectors Food/Beverage processing & Packaging, Beauty and cosmetics, Confectionery, Catering & Restaurants, Transportation (Logistics) and Agric/Agro-Allied (retail value chain).
With an interest rate of 9% 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.