An African proverb says, “if you strike a woman, you strike a rock”, reminding us of the power of women. That’s why we’ve created the W Power Loan, designed to close the financing gap for female owned businesses by providing access to loans and credit facilities.
It’s perfect for women operating in these sectors:
Fashion, Catering/Eateries, Manufacturing, Beauty & Wellness, Hospitality & Tourism, Education, I.T and Healthcare.
Loans are granted in two broad areas:
Term Loan: meant for asset acquisition and infrastructure upgrades, use this loan to buy machinery, equipment and all other fixed assets needed for your business.
Working Capital: use this loan to purchase raw materials or settle other daily operating expenses of the business.
Plus, depending on your type of business and its risk rating, you could access up to 100 Million Naira (One Hundred Million Naira) in loans.
Keep in mind, this loan is only available to women-owned businesses (at least 50% female ownership), managed by a woman.
- The business must have been in operation for at least a year with a minimum annual turnover of 5 Million Naira.
- New account-holders must have operated their accounts for at least 30 days.
Other Terms and Conditions, including credit checks may apply.
To learn more about the W Power Loan, click here for the FAQs.
Eligibility Criteria for the Power Loan
|Description||Tier 1||Tier 2||Tier 3||Tier 4|
|Ownership||At least 50% female ownership|
|Tenor||12 – 36months|
|Minimum years of operation||10yrs||5yrs||3yrs||1yr|
|Staff Strength||Min. of 20||Min. of 5||Min. of 5||Min. of 2|
|All Asset Debenture and Credible Guarantor plus Post-dated cheques||Credible Guarantor plus Post-dated cheques||Credible Guarantor plus Post-dated cheques or Cash flow lending methodology|
|Scope of Facility||
If you are interested and eligible for the W Power Loan, Please click Here to apply.
Our partner ESG limited (A Women’s Business Clinic) will contact you within 48 hours to assist with the Loan processing