FIRSTBANK LAUNCHES SINGLE-DIGIT LOAN FOR WOMEN-OWNED BUSINESSES; REINFORCES ITS ROLE IN STRENGTHENING GENDER INCLUSION IN NIGERIA

• • The FirstGem fund (FirstGem loan) is a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.
  • The loan scheme covers female-owned or partnered SMEs in various sectors of the economy
  • Launched in 2016, FirstGem 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.

In furtherance of its role in promoting female entrepreneurship across the country, Nigeria’s premier banking institution and leading financial inclusion services provider, First Bank of Nigeria Limited, has announced the launch of the FirstGem fund (FirstGem loan); a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.

The FirstGem loan scheme is designed for female-owned or partnered SMEs in the following sectors  Food/Beverage processing & Packaging, Beauty and cosmetics, Confectionery, Catering & Restaurants, Transportation (Logistics) and Agric/Agro-Allied (retail value chain). With an interest rate of 9% per annum, 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.