₦500k Or ₦3M FirstCem Loan Scheme Application Portal

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.

• 2022 BOA Agric and Non-Agric Loans for Nigerians
• IFAD Agrihub Nigeria project Special Work and Learn Training Programme
• NYIF New Round of Loan Disbursements
• Paga Donates N2.4m To Women Impacting Nigeria OrganisationN40,000 Per/m Free Graduates Salary – How to Apply
• ₦75,000 Stipends Stipend for Young Nigerians – Apply Now!
• ₦200 Million Non-Interest Loan to MSMEs
• SMEDAN begins ₦1.5m Loan Disbursement
• Quickteller N1m Business Grant Application Form
• Sterling SWAY AGFIN Loan – Apply Now
• Dangote Refinery Recruitment 2022 Job Vacancies Application Process
• ₦250,000 – ₦500,000 FG Loan by NDE has Commence – Apply Now
• Easy Steps To Register Your Business With SMEDAN, Using Your Phone
• USADF/DFC ASBC Programme 2022 for SMEs Apply Here
• FG to Loan ₦250,000 – ₦500,000 to Youths via NDE – Get Access
• Federal Government SMEDAN Loan MSME Fund | Application
• 600,000 Receives ₦3 Million Covid-19 Loan From FG
• FCMB Begins 2022 Loan Disbursement
• Stanbic IBTC Offers Smart Loan of up to N10m to Customers
• CBN Micro, Small and Medium Enterprises Development Fund (MSMEDF) 2022

Features

• 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)

Facility Type

• Working Capital – To purchase raw materials or stock in trade.
• Time/Term Loan – To purchase assets (specialized assets may be financed on exceptional basis)

Target Market

• 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)

Eligible Business:

MSMEs in the following approved sectors can apply:

Food / Beverage processing & Packaging Confectionaries
2. Catering & Restaurants
3. Transportation (Logistics)
4. Beauty/cosmetic products
5. Agric/Agro Allied (retail / food value chain)

Customers eligible to access the FirstGem Fund?

• a. All women owned and led MSMEs with at least 51% female ownership in the approved sectors.
• b. Eligible businesses must be registered with CAC. Loan amount:
• a. Minimum of N500,000, maximum of N3M with a single digit loan at 9%
• b. The repayment period for the FirstGem loan is 12months for Working Capital and 24months for the Term Loan.
• c. Customers of other banks can also apply on provision of their 12-month business account statement from another bank and opening of a Gem Business account.
• d. Customer in FMCG or Fashion industry are not eligible to access the FirstGem fund How to apply:

 How to Apply

• Download the Retail Loan Application Form
• Complete the form and with the accompanying documents, submit at the nearest FirstBank branch.