W Power Loan FAQs

A: It is an on-lending facility for women owned SMEs through Access Bank.

A: A female owned business is defined as a business that is at least 50% owned by a female OR the female is the sole signatory of the business OR 2/3rds of the signatories are female.

A: All businesses are accommodated with a special focus on the following sectors:

  • Fashion, Catering/Eateries, Manufacturing, Beauty & wellness, Hospitality & tourism, Education, Information technology and Healthcare.
  • Agricultural business with a focus on processing, distribution and packaging.

A: The W Power Loan can be used to finance;

  1. Asset acquisition and infrastructure upgrade
  2. Purchase of raw materials or stock in trade
  • Working capital requirements e.g. Stock purchase, salary payments, daily running costs e.g. purchase of diesel, payment of utility bills etc

Invoice discounting

A: The repayment period can be up to 36 months and a maximum tenor of up to 12 months for operating costs.

A: The criteria is as shown in the table below;

Equity Contribution 20% 15%
Security Legal Mortgage


All Asset Debenture and Credible Guarantor with undated cheques Credible Guarantor plus undated cheques

Or Cash Flow Lending Methodology

Tenor 12 – 36months

A: The Interest rate depends on the percentage of female shareholdings:

  • 50% and above female shareholdings – 15% Per Annum
  • 30-49% female shareholdings– 2% less applicable market rate
  • 20-29% female shareholdings– 1% less applicable market rate

A:        Yes, a one-off charge of 1% management fee.

A: The maximum loan per customer is N100m. However, depending on where a business falls in our categorization, the maximum that applies per category is as follows;

     Tier 1 = ₦100 million

Tier 2 = ₦50 million

Tier 3 = ₦20 million

Tier 4 = ₦5 million

A: 20% is required for Tier 1- 2 customers and a minimum of 15% equity contribution is required for Tier 3 – 4 customers.

A: No, Beneficiaries need not be an existing account holder. However, she must open and operate her corporate account for a minimum of 30 days.

S/N Document Tier 1 Tier 2 Tier 3 Tier 4
1 Loan application form Mandatory
2 Company profile Mandatory
3 Financial statement Recent three (3) years Audited account Recent Audited or Management


Three (3) years Bank statement Twelve (12) months Bank statement
4 Bank Statement (including other banks)  

One (1) year bank statement for all existing bank accounts


6-12 months Bank statement
5 Credible Guarantor form & Post-dated Cheques Applicable Applicable Applicable Applicable
6 Credit Check Mandatory
7 BVN Mandatory
8 Registration for the Mini-MBA and other W applicable trainings based on customer category Each Woman is encouraged to attend at least one of the training programs from the ‘W’ Academy.
9 Bill of quantities (BOQ)                                                  If Applicable
10 Pro forma invoice If Applicable

A: The application form can be picked up at any branch or printed/ filled online fromhttps://www.accessbankplc.com/Personal-Banking/LOANS/W-Power-Loan.aspx

A: The conditions are as listed below;

  • Completed and signed Loan Application form
  • Company Profile
  • Audited Report (mandatory for tier 1 and tier 2)
  • Bank statements (up to 12 months)
  • Duly executed guarantor form supported by notarised statement of net worth
  • Duly executed offer letter
  • Customer’s BVN
  • Satisfactory credit checks
  • Execution of all necessary documents for the Credible Guarantor and collateral (where applicable)

A:  The repayment plan allows monthly or quarterly repayments. However, it must be in line with the customer’s cash flow from sales, collections and receivables which must be domiciled in Access Bank.

A:  The acceptable collateral includes any of the following:

  • Credible guarantor for Tier 3 and 4 Customers
  • Asset financed for loan amounts up to 20 million Naira
  • All asset debenture for Tier 2 Customers
  • Legal Mortgage for Tier 1

A: A credible guarantor is a person who can cover 120% of the loan facility and meet at least one of the under listed conditions

  • Ownership of a property which must be of a minimum value of 50 million in selected cities like Lagos, Abuja and any key commercial city
  • Notarized minimum net worth statement estimate of over 120% of the exposure
  • Senior Management Executive in a Public Liability Company or employee in a blue-chip company with minimum monthly salary of N1m and above evidenced by a statement of account for a six months period and letter from its employer.
  • Clean credit checks
  • For Business owners, minimum turnover of at least 100% more than the loan being secured and minimum of 5 years in operation
  • Cash back with guarantor’s deposit of 120% of the exposure
  • Provision of the Guarantor’s Post-dated cheques covering 120% of the facility amount

A: No, they are not. However, women will be encouraged to attend at least one of the training programs because of the inherent value to their business.

A: It can be recommended based on our evaluation of the state of your business. But it is desirable for all business to do a health check. This will be need based but will be open to all at a discounted fee.

A: The business supports offer a range of services that are adapted to suit the business growth requirement such as Marketing, Sales, HR, Book Keeping, Tax etc.

A: No, but their female members in any of the sector can apply for the W Power loan.

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