Access Bank’s W Power Loan – Access up to N20 Million with no Physical Collateral Required.

W Power Loan

An African proverb says, “if you strike a woman, you strike a rock”, reminding us of the power of women. That’s why we’ve created the W Power Loan, designed to close the financing gap for female owned businesses by providing access to loans and credit facilities.

It’s perfect for women operating in these sectors:
Fashion, Catering/Eateries, Manufacturing, Beauty & Wellness, Hospitality & Tourism, Education, I.T and HealthCare.

Loans are granted in two broad areas:
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.

Plus, depending on your type of business and its risk rating, you could access up to 100million naira (One Hundred Million Naira) in loans.

Keep in mind, this loan is only available to women-owned businesses (at least 50% female ownership), managed by a woman.

• The business must have been in operation for at least a year with a minimum annual turnover of 5 million naira.
• New account-holders must have operated their accounts for at least 30 days.

Other Terms and Conditions, including credit checks may apply.

To learn more about the W Power Loan, click here for the FAQs.

DO YOU QUALIFY FOR A W POWER LOAN?

Tier 1

• Maximum Loan:  N100m (One Hundred Million Naira)
• Minimum Years of Operation:  10 years
• Staff Strength:  Minimum of 20
• Annual Turnover:  Above N300m
• Equity Contribution:  20%
• Security:  Legal Mortgage

Tier 2

• Maximum Loan:  N50m (Fifty Million Naira)
• Minimum Years of Operation:  5 years
• Staff Strength:  Minimum of 5
• Annual Turnover:  Above N100m-N300m
• Equity Contribution:  20%
• Security:  All Asset Debenture and Credible Guarantor plus Post-dated cheques

Tier 3

• Maximum Loan:  N20m (Fifty Million Naira)
• Minimum Years of Operation:  3 years
• Staff Strength:  Minimum of 5
• Annual Turnover:  Above N10m-N100m
• Equity Contribution:  15%
• Security:  Credible Guarantor plus Post-dated cheques

Tier 4

• Maximum Loan:  N5m (Fifty Million Naira)
• Minimum Years of Operation:  1 year
• Staff Strength:  Minimum of 2
• Annual Turnover:  Above N2m-N10m
• Equity Contribution:  15%
• Security:  Credible Guarantor plus Post-dated cheques

Loan Tenor: 12 – 36 months

Scope of Facility: 1. Term loan for Asset Acquisition and Infrastructure Upgrade
2. Time Loan: Working Capital, Invoice Discounting, Purchase of Raw Materials, Stock in trade.

Interested in the W Power Loan? Please follow this link to apply for this loan opportunity

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