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 all registered female owned businesses with at least 1 year of business operation.
Loans are granted in two broad areas:
Term Loan: meant for business expansion, asset acquisition and infrastructure upgrades 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 with at least 20% to 50% female ownership or between 20% to 50% shareholding if the CEO or COO is a woman.
Other Terms and Conditions, including credit checks may apply.
To learn more about the W Power Loan, click here for the FAQs or call our hotline 01-2273005.
Eligibility Criteria for the Power Loan
|Description||Tier 1||Tier 2||Tier 3||Tier 4|
|Definition of business||· Businesses with at least 50 percent female ownership/stake
· Businesses where a woman owns 20-50 percent shareholding and has a woman as its CEO or COO.
|Minimum years of operation||5yrs||3yrs||1yr|
|Tenor||· Working Capital – 12 months
· Asset Acquisition/Business Expansion – 36months
|Minimum Average Turnover||1.2Million|
|Equity Contribution for Asset Acquisition||20%|
|Interest Rate||15% Per Annum|
|Security Options||See FAQ|
|Business Coverage||All businesses|
|Scope of facility||· Time Loan – working capital
· Term Loan – Asset acquisition, Business Expansion (infrastructure upgrade, acquisition of shops, new business outlets, construction, renovation etc.)
· Overdraft for Tier 1 and Tier 2 customers.
If you are interested and eligible for the W Power Loan, Please click Here to apply.