QUICK LINKS

×
  • Business - Companies
  • Updated: June 26, 2022

First Bank Launches Single-Digit Loan Scheme

Latest News

Felicia Abisola  Olamiji
Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

More From this Author

FirstGem fund (FirstGem loan), a single-digit loan scheme targeted at female entrepreneurs has been launched by First Bank of Nigeria Ltd.

This was disclosed in a statement by Folake Ani-Mumuney, the bank’s Group Head, Marketing and Corporate Communications, Folake Ani- Mumuney, on Sunday in Lagos.

According to Ani-Mumuney, the scheme is exclusively designed to put women at an advantage in contributing to the socio-economic development 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 said the FirstGem loan scheme is mainly 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).

Ani-Mumuney further explained  that the FirstGem loan is with an interest rate of nine per cent per annum as it does not require  any collateral to access the  loan and it is available to the bank’s existing and prospective female customers.

She said eligible customers can access loans from N500,000 to N3,000,000.

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

She also said that the loan was targeted at a broad spectrum of women, working professionals, entrepreneurs or market women through an array of benefits such as free business advisory services.

She identified other benefits as access to finance, specialised training on business development initiatives, regular insights on business/investment opportunities and mouth-watering discounts at partner merchant outlets.

To access the loan, Ani-Mumuney urged female owned or partnered SMEs to visit the bank’s website via https://www.firstbanknigeria.com/personal/loans/more-financing-options/firstgem-funds/.

She added that applicants can download and fill out the Retail Loan Application Form and submit the completed form to the nearest FirstBank branch with accompanying documents. 

Tags

Join our Telegram platform to get news update Join Now
Felicia Abisola  Olamiji
Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

More From this Author

COMPANIES PROFILE

goldlink insurance plc Financial Services

Goldlink Insurance Plc was incorporated on 15th April 1992 as a Private Limited ...

LEARN MORE
cornerstone insurance plc Financial Services

Cornerstone Insurance Plc was incorporated on 26th July 1991 as a private limite...

LEARN MORE
axamansard insurance plc Financial Services

AXA Mansard was incorporated in 1989 as a private limited liability company and ...

LEARN MORE

0 Comment(s)

SPONSORED

Jun 08, 2022

Countdown To 2023 Presidential Election: Who Are You Voting For?

Countdown To 2023 Presidential Election: Who Are You Voting

Atiku Abubakar (PDP) 8.20 %

Bola Ahmed Tinubu (APC) 18.85 %

Peter Obi (LP) 72.95 %

114 days 21 hours remain

See this post in...