FCMB Micro Finance Business, an arm of First City Monument Bank (FCMB), was birthed in a bid to promote financial inclusion among the unbanked and underbanked population. 

The Micro Finance Business provides financial services to the unbanked, under-banked and low- income segment, especially women in the rural parts of the country, as there is a clear indication that the unbanked sector is very critical and needs to be served.

As an indigenous Bank established over 30 years ago and with strong focus on sustainability and corporate responsibility, FCMB has the necessary structures in place to assist the economically viable low-income earners with potential to do daily business and earn an income to support their families via sustainable growth opportunities.

“E DON BETA”

The FCMB “E DON BETA” (Pidgin pronounced, meaning ‘It has gotten better’) is a group lending programme designed to create financial awareness and empowerment for economically active women through microcredits at a reasonable cost.

It operates on a self-selected members group (minimum of 5 and maximum of 30 members) who access loans individually but have group guarantors.

This loan provides access to unbanked and under-banked low-income women for credit, savings and other financial services and helps meet the working capital needs of clients that run small businesses.

Benefits

  • Fast and Easy Access to Finance– Taking financial services closer to our people thereby making it easy for them to access loans to finance their business undertakings.
  • No Collateral Requirements – There are no cumbersome collateral or paperwork required. However, you must have group guarantors.  The loan is designed to take care of the needs and preferences of the low-income market, leveraging on their mutual trust and group collateral.
  • Excellent Customer Service – Our staff are friendly, down to earth, competent, trustworthy and always willing to help. We also ensure there are no language barriers, matching client groups with employees who speak their local languages.
  • Flexible repayment structure – This loan allows a weekly repayment frequency.
  • Professional training and advice on basic financial management, business planning and customer relations.
  • Low interest rate.

Features

  • Facility range: Minimum of N30,000 and maximum of N200,000. You are restricted to a maximum on N100,000 for your 1st loan cycle.
  • Methodology: Individual lending but group liability.
  • Duration: 6 months.
  • Grace period: 1 week
  • Repayment frequency: Weekly.

Documentation Required

  • Duly completed loan application form.
  • 1 guarantor
  • 2 recent passport-size photographs.
  • Current utility bill.
  • A valid identification such as a National Driver’s License, or an International passport, or a National ID card, or a Voters Card (original copy to be sighted by Account Officer) or Third party identification.

How To Apply

Visit the nearest FCMB branch or call us on 07007777778

AGENT BANKING

 

OUR CSR PROGRAM

As part of FCMB’s commitment to promote our clients and prospects’ wellbeing by supporting their fight against poverty and providing them with health education and care, we held Health Initiatives in Dugbe, Ibadan, in August 2015 and November 2016. FCMB employees joined the process as volunteers for smooth registration and crowd control.

In 2021, we sponsored 10 kids in Ibadan to attend a Program handled by KIDSTECH AFRICA. This training introduced kids to technology as they were taught how to code using SCRATCH, PYTHON and JAVA Programming languages. This is to create awareness and enthusiasm in the minds of the kids to embrace the future and solve problems using technology.



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