First Bank of Nigeria has introduced a single-digit loan scheme called “FirstGem Loan” for women entrepreneurs based in Nigeria.
The loan scheme is specially 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).
According to First Bank. the FirstGem loan is a collateral-free loan that is available to the their existing and prospective female customers, and it comes with an interest rate of 9% per annum.
Concerning the loan, the group head of First Bank of Nigeria Limited, Folake Ani-Mumuney, stated that the loan would boost the businesses of female entrepreneurs in Nigeria
“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.
“Our 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 said
Eligible customers can access loans from N500,000 to N3,000,000.
To apply for the FirstGem loan, Female entrepreneurs should visit the official website, and fill out the Loan Application Form.