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How To Apply For Access Bank W Power Loan (Get Upto N100m)

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How To Apply For Access Bank W Power Loan

How To Apply For Access Bank W Power Loan (Get Upto N100m)

Are you a woman looking for a loan to help you run your business? if yes, then you should look into Access Bank’s W Power Loan. Essentially, Access Bank created this program to bridge the financial gap in the women’s sector. They accomplish this by providing loans to women-owned businesses.

About The Access Bank W Power Loan

The W Power Loan by Access Bank is a programme run by Access Bank PLC and aims to empower women. Basically, they do this by providing women with loans to run their businesses. It is a strictly women’s loan programme that is suitable for women in sectors like Manufacturing, Fashion, Education, Hospitality & Tourism, I.T, as well as HealthCare.

You may also want to read How To Apply For FirstBank FirstGem Loan Scheme (Get Up to N3M)

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Different Services Access Bank W Power Loan Offers

Basically, the W Power loan offers loan services to women-owned businesses. They grant loans in two broad areas:

1. Term Loan

Term loans are strictly meant for business infrastructure upgrades and asset acquisition. Basically, you can use this loan to purchase machinery, equipment, or any other fixed assets you need for your business.

2. Working Capital

Working Capital loan helps to offset the daily bills your business runs on. Basically, you can use this loan to buy raw materials or pay off other everyday operating expenses of your business.

Requirements For The Access Bank W Power Loan

Here are what you need to qualify for the loan:

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1. You must have been operating your business for at least one year. Also, your business must have at least 5 million Naira annual turnover.

2. If your Access Bank account is still new, you must have operated it for at least 30 days.

3. Some other Terms and Conditions, such as credit history checks may apply.

How To Apply for Access Bank W Power Loan

Interested applicants of this loan should kindly follow the below steps:

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1. First, follow this direct link, https://wpowerloan.thewcommunity.com/

2. Next, fill in the application form with the correct details.

3. Lastly, submit your details and wait for a response to your request.

Required Documents To Apply For the W Power Loan?

Here are some documents you will need to apply for this kind of loan:

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  • Company Registered Name
  • Years of Business Operation
  • Current Address of Operation
  • Nature of Business/Activity
  • Loan Amount Requested
  • Registered Business Address
  • Head Office Address (If different from above)
  • RC or Registration Number
  • Date of Registration
  • Your Office Telephone No
  • Website or Webpage
  • Email Address

You may also want to read GroFin SME Loans: Requirements, Interest Rate And How To Apply

Maximum and Minimum Loan Amount on W Power Loan

Here is a breakdown of how much loan you can access depending on the requirements you meet:

1. Tier 1

Maximum Loan Amount:  N100m (One Hundred Million Naira)

Minimum Years of Business Operation:  10 years

Staff Strength:  Minimum of 20 staff

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Annual Revenue Turnover:  Above N300m

Equity Contribution:  At least 20%

2. 2nd Tier

Maximum Loan Amount:  N50m (Fifty Million Naira)

Minimum Years of Business Operation:  5 years

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Staff Strength:  Minimum of 5

Annual Revenue Turnover:  Above N100m-N300m

Equity Contribution:  20%

3. For Tier 3

Maximum Loan Amount:  N20m (Fifty Million Naira)

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Minimum Years of Business Operation:  3 years

Staff Strength:  Minimum of 5

Annual Revenue Turnover:  Above N10m-N100m

Equity Contribution:  15%

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4. Tier 4

Maximum Loan Amount:  N5m (Fifty Million Naira)

Minimum Years of Operation:  1 year

Staff Strength:  Minimum of 2

Annual Turnover:  Above N2m-N10m

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Equity Contribution:  15%

Loan Tenor: Between 12 – 36 months

How To Contact Access Bank For W Power Loan

Here’s how to contact W Power Loan:

Phone Number: +234 1- 2712005-7, +234 1-2802500, 07003000000, 01-2273000

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To learn more about the W Power Loan, call Access bank’s hotline 1-2273005

If you want to check your W Power Loan status, just contact ESG [email protected]

Website: www.accessbankplc.com

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