Have you heard about the FirstGem Funds? The FirstGem Fund Scheme is FirstBank’s gender support single-digit loan for women in MSMEs, to enable them meet their working capital and asset finance needs.
Benefits of the FirstGem Loan
- 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)
RECOMMENDED– CBN Agricultural Credit Support Scheme (ACSS) Loan
- Working Capital – To purchase raw materials or stock in trade.
- Time/Term Loan – To purchase assets (specialized assets may be financed on exceptional basis)
SEE ALSO– How to Apply for FGN Special Intervention Fund Loan for MSMEs (boi.ng)
Who can Apply for FirstGem Loan
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)
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How to Apply for FirstGem Loan for Women in MSMEs
All those that are interested in this loan, should follow the steps below to successfully apply
- Download the Retail Loan Application Form
- Complete the form and with the accompanying documents, submit at the nearest FirstBank branch
For full details visit the official website here
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We hope this article helped you successfully apply for FirstGem Loan.
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