First Bank Single-Loan Digit Scheme For Female Entrepreneurs 2022

July 7, 2022 Stephen Adoga Finance 0

First Bank Single-Loan Digit

FirstBank offers women in MSMEs a single-digit loan with gender support called the FirstGem Fund Scheme to help them with working capital and asset financing needs.

Eligibility Criteria

  • Working Capital – To purchase raw materials or stock in trade.
  • Time/Term Loan – To purchase assets (specialized assets may be financed on exceptional basis)
  • Women Owned /Led MSMEs in the following sectors
  • Food / Beverage processing & Packaging
  • Beauty and cosmetics
  • Confectionaries, Catering & Restaurants
  • Transportation (Logistics)
  • Agric/Agro-Allied (retail value chain)

Benefits

  • Min amount of N500, 0000 and Maximum of N3,000,000 (based on eligibility)
  • Interest Rate –  9% p.a
  • Tenor 12 – 24 months based on facility type
  • Management fee: 0.5% flat (one off)
  • Keyman Insurance: 0.5% (one-off)

How To Apply

Go to First Bank of Nigeria PLC on www.firstbanknigeria.com to apply

Apply Here

This information was first published on nyscinfo.com. DMCA PROTECTED.

Source: Nyscinfo

 

About Stephen Adoga 2561 Articles
Stephen Adoga is a trained journalist, researcher, creative writer, content creator, video editor and freelancer. He studied Mass Communication at the Lagos State Polytechnic, Ikorodu, where he acquired requisite training for the practice of journalism. He loves the media. His interest mostly lies in the print medium where his creative writing skill makes him a perfect fit.