FCMB launches zero-interest loan programme for women entrepreneurs

By Philippine Duru

philippineobetoduru@gmail.com

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First City Monument Bank (FCMB) has opened applications for its zero-interest loan programme targeted at women entrepreneurs as part of efforts to expand financial inclusion and strengthen support for small businesses in Nigeria.

The initiative is aimed at providing easier access to affordable funding for women-owned enterprises, many of which continue to face difficulties securing loans due to high interest rates, limited collateral, and tough lending conditions.

FCMB said the programme forms part of its broader commitment to empowering women-led businesses and supporting inclusive economic growth through accessible financing and business advisory services.

The bank noted that the intervention is designed to help female entrepreneurs grow their businesses, improve productivity, and create jobs across various sectors of the economy.

As one of Nigeria’s leading financial institutions, FCMB has continued to play a major role in SME financing through intervention funds, credit facilities, and enterprise development programmes covering retail, commercial, and investment banking.

Industry analysts say the introduction of a zero-interest loan scheme comes at a crucial period when businesses are struggling with rising operating costs, inflationary pressures, and high borrowing rates triggered by tight monetary policies.

According to stakeholders, access to affordable credit remains one of the biggest challenges facing women-owned businesses in Nigeria, particularly small and medium-scale enterprises operating in sectors such as agriculture, trade, fashion, food processing, and services.

Experts have also renewed calls for a broader rethink of support programmes for women entrepreneurs, arguing that funding alone may not be enough to guarantee long-term business sustainability.

They stressed the need for complementary support measures including market access, digital training, mentorship programmes, infrastructure support, and simplified regulatory processes to help women-led enterprises scale effectively.

Stakeholders further called for stronger monitoring systems to ensure intervention funds are transparently managed and reach genuine beneficiaries without unnecessary bureaucratic bottlenecks.

Economic observers believe the FCMB initiative could provide a significant boost for women entrepreneurs and help strengthen Nigeria’s SME ecosystem if properly implemented.

They, however, maintain that sustainable impact will depend on transparency, efficient execution, and supportive government policies aimed at improving the operating environment for small businesses.