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)
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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