CEM REPORT | First Bank of Nigeria Limited has announced the launch of a single-digit loan scheme, worth up to three million naira.
The loan scheme — FirstGem loan part of the banks FirstGem fund targeted at female entrepreneurs in the country.
The bank revealed this via a statement signed by the bank’s Group Head, Marketing and Corporate Communications, Folake Ani-Mumuney.
The statement according to Business Post stated that the loan scheme was exclusively designed for female-owned or partnered SMEs, who were into food/beverage processing and packaging, beauty and cosmetics, confectionaries, catering and restaurants, transportation (Logistics) and agric/agro-allied (retail value chain) to place them at an advantage in contributing to the economy of the country.
“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 added that the FirstGem loan was a collateral free loan available at a nine percent per annum, designed specifically for female-owned or partnered SMEs owners aged 18 years and above.
She said the loan offers, five hundred thousand to five million naira (N500,000 to N3,000,000) and available to the bank’s existing and prospective female customers.
Furthermore, she said FirstGem launched in 2016 had been impactful in driving financial inclusion, influencing women’s empowerment through gender-advancement programmes, financial literacy, wealth management and building an investment portfolio.
She further said the loan offers benefits such as specialised training on business development initiatives, regular insights on business/investment opportunities and mouth-watering discounts at partner merchant outlets.
Ani-Mumuney urged female-owned or partnered SMEs to visit the bank’s website to access the loan, adding that they should download and fill out the Retail Loan Application Form and submit the completed form to the nearest FirstBank branch with accompanying documents.