APPLY: FirstBank’s low-interest loan “FirstGem fund” for female business owners

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The FirstGem fund (FirstGem loan), a single-digit loan program aimed at female entrepreneurs, has been launched, according to a press release from First Bank of Nigeria Limited.

This was disclosed in a statement on Sunday by Folake Ani-Mumuney, Group Head of Marketing and Corporate Communications.

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According to Ani-Mumuney, the program was specifically created to provide women with an advantage in contributing to the socio-economic development of the nation.

She declared:

“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.”

Ani-Mumuney stated that the FirstGem loan program was created for female-owned or associated SMEs engaged in the processing and packaging of food and beverages, cosmetics, confections, catering, restaurants, logistics, and agric/agro-allied businesses (retail value chain).

She claimed that the bank’s current and potential female customers could apply for the FirstGem loan, which has an annual interest rate of 9% and requires no collateral.

According to her, customers might receive loans ranging from N500,000 to N3,000,000 depending on their eligibility.

Ani-Mumuney claimed that since its 2016 start, FirstGem has made a significant contribution to financial inclusion, and women’s empowerment through gender-advancement initiatives, financial literacy, asset management, and portfolio building.

She claims that FirstGem was created exclusively to cater to the requirements of women who are at least 18 years old.

She added that the loan was intended for a wide range of women, including working professionals, businesswomen, and market women, and that it included a number of incentives like free business consulting services.

Access to financing, specialized training on business development initiatives, regular insights on business/investment opportunities, and enticing discounts at partner merchant outlets were among the additional benefits she cited.

Ani-Mumuney invited female-owned or co-owned SMEs to access the loan by going to https://www.firstbanknigeria.com/personal/loans/more-financing-options/firstgem-funds/ on the bank’s website.

She asked them to download the Retail Loan Application Form, complete it, and send it, along with any supporting documentation, to the nearby FirstBank branch.

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