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W Power Loan FAQs

Q: What is W Power Loan?
A:  It is an on-lending facility for women owned SMEs through Access Bank

Q: What is the definition of a female owned business?
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.

Q: Are there focused sectors for the W Power Loan?
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.

Q: What are the specific uses of the loan?
A: The W Power Loan can be used to finance:

  • Asset acquisition and infrastructure upgrade
  • Purchase of raw materials or stock in trade
  • Working capital requirements
  • Invoice discounting

Q: What is the maximum tenor of the W Power Loan?
A: The repayment period can be up to 36 months and a maximum tenor of up to 12 months for working capital.

Q: What is the Eligibility Criteria?
A: The Criteria is as shown in the table below;

Description Tier 1 Tier 2 Tier 3 Tier 4


At least 50% female Ownership

At least 50% female Ownership

At least 50% female Ownership

At least 50% female Ownership

Min Yrs. of Operation





Staff Strength

Min. of 20

Min. of 5

Min. of 5

Min. of 2

Max Loan





Equity Contribution




Legal Mortgage

All Asset Debenture and Credible Guarantor with undated cheques

Credible Guarantor plus undated cheques
Or Cash Flow Lending Methodology



Q: What is the Interest rate?
A: 15% per Annum

Q: Are there any additional fees?
A:Yes, a one-off charge of 1% management fee and 0.5% credit life insurance on the promoter.

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

Q. What is the maximum loan per customer?
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

Q: Must Beneficiaries be Account Holders?
A: No, Beneficiaries need not be an existing account holder. However, she must open a corporate account with the Bank.

Q: What documents are required?



Tier 1

Tier 2

Tier 3

Tier 4


Loan application form



Company profile



Financial statement

Recent three (3) years Audited account

Recent Audited or Management

Three (3) years Bank statement 

Twelve (12) months Bank statement 


Bank Statement (including other banks)

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

6-12 months Bank statement 


Credible Guarantor form & Post-dated Cheques






Credit Check






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.


Bill of quantities (BOQ)

If Applicable


Pro forma invoice

If Applicable

Q: How can customers apply for this loan facility?
A:  The application form can be picked up at any branch or printed/ filled online from (

Q: What are the Conditions precedent to loan disbursement?
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/ perfection of Legal Mortgage/All Asset debenture

Q: How flexible is the repayment plan?
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.

Q: What is the acceptable security?
The acceptable security 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
Q: Who is a credible guarantor?
A: A credible guarantor is one 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 1 year in operation
  • Cash back with guarantor’s deposit of 120% of the exposure
  • Provision of the Guarantor’s undated cheques covering 120% of the facility amount
Q: Will the W Power Loan be available at Access Bank branches outside Nigeria?
A: Not at the moment.

Q: Are the training programs mandatory?
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.

Q: What is required for Business Support?
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.

Q: What does the Business Support entail?
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.   

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