[News] Asset Finance: FCMB Offers N100m to SMEs



Small and Medium Scale Enterprises (SMEs) can now quickly access from N5 million to N100 million to purchase equipment needed to grow and expand their businesses, courtesy of First City Monument Bank (FCMB) SME Asset Finance Facility. So far, over 25,800 SMEs have accessed this facility.

FCMB has provided about N45.9 billion loan guarantee support to SMEs with inadequate collateral coverage in the start-up stage and has disbursed over N637.08 billion in loans to entrepreneurs.

The FCMB Asset Finance facility is conveniently structured to provide a viable option for SMEs to acquire business assets at an affordable rate. So far, the uptake by SMEs has been impressive, and it is helping them to succeed.

In recognition of its support to SMEs in the country, FCMB was awarded “Best Bank with the Highest Impact on SMEs in Nigeria” for the second consecutive year by the Development Bank of Nigeria (DBN) at its annual awards ceremony. This prestigious award is a testament to FCMB’s ongoing efforts to provide SMEs with the financing and support they need to grow and succeed.

In 2021, the Bank won nine national and international awards and recognitions across various SMEs segment, including the “Best SME Bank in Africa” and “Best SME Bank in Nigeria” at the Asian Banker Middle East and Africa Regional Awards for the second consecutive year.

A member of the FCMB Group Plc, First City Monument Bank is committed to fostering inclusive and sustainable growth in its communities, building a supportive ecosystem rooted in Africa that connects people, capital, and markets.



Be the first to comment

Leave a Reply

Your email address will not be published.