Our W Power Loan is a financing scheme specially designed to provide financial support for all female owned businesses
Open an account nowAn African proverb says, “If you strike a woman, you strike a rock”, reminding us of the power of women.
For this reason, we created the W power loan. It is specially designed to close the financing gap for female-owned businesses by providing access to loans and credit facilities.
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.
To learn more about the W Power Loan, call our hotline 1-2273005. or
Read FAQsDescription | Tier 1 | Tier 2 | Tier 3 | Tier 4 |
---|---|---|---|---|
Business Definition/Ownership | - Businesses with at least 51% female ownership/shareholder.
| |||
Banking Relationship | - Both New and Existing female owned businesses with qualifying shareholding can apply using their 12 months business account statement. | |||
Minimum years of operation/business registration | - At least 3 months of formal business registration and 1 year of operation. | |||
Loan Amount Eligibility | Subject to business turnover | |||
Tenor |
| |||
Loan amount | - Minimum - N1 million - Maximum – N100 million | |||
Equity Contribution | 20% - Asset Acquisition and Business Expansion) Not applicable for working capital | |||
Interest Rate | - Businesses that are 100% owned and managed by women - 24.5%p.a. - Businesses with 51% - 100% female shareholding AND active participation in operations and finance of business (CEO or COO)-24.5%p.a. - Businesses with at least 20% - 50% female shareholding AND active participation in operations and finance of business (CEO or COO)- 27%p.a | |||
Security Options |
| |||
Business Coverage | All businesses | |||
Facility Types | - Time Loan/Revolving Time Loan - working capital. - Term Loan – Asset acquisition, Business Expansion - Overdraft |
To get started, kindly send a mail to wcares@accessbankplc.com
Download Frequently Asked Questions Here
Join The W-Community today.
Join the community
Latest News