FCMB unveils new value-added initiative for SMEs – First City Monument Bank (FCMB) as part of its drive towards growing small businesses in Nigeria has unveiled another value-added initiative called SheVentures for women-owned Small and Medium Scale Enterprises (SMEs).
FINANCIAL WATCH gathered the initiative will provide enhanced support to existing and upcoming women-owned SMEs through access to finance, training and mentoring to boost their business in a sustainable manner.
This initiative is the FCMB Women in Business Unit, and was launched at an impressive ceremony on March 7 in Lagos as part of the Bank’s activities to celebrate this year’s International Women’s Day under the theme balancing for Better.
At the ceremony, some women SME operators received loans ranging from N500,000.00 to N5,000,000.00.
In a statement, FCMB explained that SheVentures is anchored on a unique selling proposition of ‘’Be You’’, which connotes confidence, independence and the courage required by women to fulfill their aspirations. It is designed to engage, inspire and equip potential and existing women entrepreneurs to take bold steps that would launch their business to greater heights.
SheVentures comes with several cutting-edge features and benefits for women-owned SMEs. One of such is the zero-interest rate for an initial period of three months. In addition, FCMB will organise free training and mentoring programmes for 80 women entrepreneurs every quarter, out of which 40 of them will access this loan.