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Home        Personal Banking        Loans        W Power Loan

W Power Loan

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.

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 100million 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.

Other Terms and Conditions, including credit checks may apply.

To learn more about the W Power Loan, click here for FAQs or call our hotline 01-2273005.

DO YOU QUALIFY FOR A W POWER LOAN?

Description Tier 1 Tier 2 Tier 3 Tier 4
Ownership At least 50% female ownership
Tenor 12 - 36 months
Min Years of Operation 10yrs 5yrs 3yrs 1yr
Staff Strength Min. of 20 Min. of 5 Min. of 5 Min. of 2
Max. Loan 100mn 50mn 20mn 5mn
Equity Contribution 20% 15%
Security Legal Mortgage All Asset Debenture and Credible Guarantor plus Post-dated cheques Credible Guarantor plus Post-dated cheques Credible Guarantor plus Post-dated cheques
Scope of Facility 1. Term loan for Asset Acquisition and Infrastructure Upgrade
2. Time Loan: Working Capital, Invoice Discounting, Purchase of Raw Materials, Stock in trade.
Re-instatement period for a time loan Within 48 hours after the clean-up of the cycle.
 

Interested in the W Power Loan? Click HERE.

Click HERE to download W Power Loan application form.

For other offerings, join The W-Community today.