Home Finance Firstbank Throws Life-Line To Women-Owned Businesses With Single-Digit Loan Offer

Firstbank Throws Life-Line To Women-Owned Businesses With Single-Digit Loan Offer


Determined to promote female entrepreneurship across the country, First Bank of Nigeria Limited has announced the launch of the FirstGem fund (FirstGem loan)

FirstGem loan according to the premier banking institution is a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.

Folake Ani-Mumuney, group head, First Bank of Nigeria Limited while speaking on the loan said, FirstGem product plays in creating an avenue to enlarge the business activities and endeavours of female entrepreneurs across the country.

Ani-Mumuney said the 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.

Ani-Mumuney further said that since the launch of the FirstGem in 2016, 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.

FirstGem is designed specifically to meet the needs of the female gender, aged 18 years and above.

FirstGem is targeted at a broad spectrum of women, working professionals, entrepreneurs, or market women through an array of benefits such as free business advisory services, access to finance, specialized training on business development initiatives (virtual and physical events), regular insights on business/investment opportunities. and mouth-watering discounts at partner merchant outlets (spas, salons, grocery stores) offering lifestyle products and services.

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 annum, the 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.

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