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How To Apply For FirstBank FirstGem Loan Scheme (Get Up to N3M)

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FirstBank FirstGem Loan Scheme

How To Apply For FirstBank FirstGem Loan Scheme (Get Up to N3M)

Welcome to Flippstack, Application is currently ongoing for the FirstBank FirstGem Loan Scheme which is aimed to help businesswomen get funding to boost their business as we will be walking you through on how to apply.

You may also want to read How To Easily Claim Your Abandoned NMFB Covid-19 TCF Loan

About FirstBank FirstGem Fund Scheme

The FirstGem Fund Scheme is FirstBank’s gender support single-digit loan for women in MSMEs, to enable them to meet their working capital and asset finance needs.

Target Market / Business

Women-Owned /Led MSMEs in the following sectors

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  • Food / Beverage processing & Packaging
  • Beauty and cosmetics
  • Confectionaries, Catering & Restaurants
  • Transportation (Logistics)
  • Agric/Agro-Allied (retail value chain)

Funding Details

  • 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)

Customers Eligible To Access The FirstBank FirstGem Loan Scheme

1. All women-owned and led MSMEs with at least 51% female ownership in the approved sectors.

2. Eligible businesses must be registered with CAC

Application Method

Interested and qualified business owners should kindly Download the Retail Loan Application Form, Complete the form, and with the accompanying documents, then submit it at the nearest FirstBank branch.

Visit the Loan official website for more information.

You may also want to read Latest FMARDPace Enumerators Payment Update: Disbursement Date And All You Need To Know

Frequently Asked Questions

Must the business be registered?

Yes, eligible businesses must be registered with CAC.

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What is the repayment period for the FirstGem loan?

12months for Working Capital and 24months for the Term Loan.

Can non-FirstBank customers access the facility?

Yes, on the provision of their 12-month business account statement from another bank and opening of a Gem Business account.
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