First City Monument Bank (FCMB) has announced a major boost to its women-focused business support programme, SheVentures, by increasing the pool of interest-free loans available to women-owned and women-led small and medium-sized enterprises (WSMEs) from N200 million to N1 billion.
The initiative, designed to help women entrepreneurs overcome financial barriers and scale their businesses, offers interest-free loans of up to N10 million for periods of three to six months, with a one-month moratorium. Beneficiaries also receive business management training and structured mentorship to strengthen their capacity for sustainable growth.
According to the bank’s managing director, the expansion reflects FCMB’s commitment to driving inclusive economic growth by supporting women-led enterprises, which play a vital role in job creation and innovation. She explained that many women entrepreneurs struggle to access affordable finance and the structured support they need to expand, and the SheVentures model addresses both challenges by combining zero-interest funding with practical business support.
The bank’s SME banking head highlighted the impact of the initiative so far, revealing that over 300 women have already benefited. He noted that the increased funding will enable more women to access the resources, skills, and networks they need to build resilient businesses, thereby deepening the programme’s overall impact.
The head of SheVentures also noted that the expanded facility includes interest-free loans of up to N5 million for four months and up to N10 million for six months, both with a one-month moratorium, opening new opportunities for women entrepreneurs across diverse sectors.
The expanded SheVentures programme is expected to significantly strengthen women-led enterprises and contribute to broader economic development, particularly for small businesses that often face financial and capacity-related challenges.
