A password will be e-mailed to you.

Share This Post!

The W Power Loan is an on-lending facility for women-owned SMEs through Access Bank. It is designed to close the financing gap for female-owned businesses by providing access to loans and credit facilities.

The loans granted to applicants are generally divided into two broad areas. First, there is a ‘Term loan’ which is meant for asset acquisition and infrastructure upgrades that enable beneficiaries to buy machinery, equipment, and all other fixed assets needed for the business. The second is for ‘Working capital’, which will be used for the purchase of raw materials or settle other daily operating expenses of the business.

 

Here are 6  more things you need to know about the W Power Loan:

1. Who is it for?

Women-owned businesses or businesses that have at least 50% female ownership

2. What are the focused sectors for the W Power Loan?

Fashion, Catering/Eateries, Manufacturing, Beauty & Wellness, Hospitality & Tourism, Education, I.T, and Healthcare.

3. What is the maximum tenor of the loan?

The repayment period can be up to 36 months and a maximum tenor of up to 12 months for operating costs.

 

w community

4. What are the specific uses of the loan?

The W Power Loan can be used to finance;

  1. Asset acquisition and infrastructure upgrade
  2. Purchase of raw materials or stock in trade

 

5. What is the maximum loan per customer?

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

 

6. What are the eligibility criteria for the loan?

Description Tier 1 Tier 2 Tier 3 Tier 4
Ownership At least 50% female ownership
Tenor 12 – 36months
Minimum 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 or Cash flow lending methodology
Scope of Facility
  1. Term loan for Asset Acquisition and Infrastructure Upgrade

 

For more information, click here. 

Interested in the W Power Loan? Click HERE.

 

Apply For The W Power Loan Now!!!

 

For other offerings, join The W-Community today.

 

By: Dammy Eneli

See Also: Access Bank Women Community Inspires Over 2000 Women At Its Annual Conference

Share This Post!