Ecobank Nigeria has introduced a special loan package for women entrepreneurs in the country attracting as low as one per cent interest.
The new product, called the Ecobank Female Entrepreneurs’ Initiative (EFEI) loan is specially designed by the bank to financially empower female business owners and entrepreneurs in the country.
Head, Consumer Asset Product, Ecobank Group, Mrs Daberechi Effiong, explained that the EFEI loan is targeted at boosting small scale businesses owned by women.
Effiong, who is also the EFEI Coordinator, explained that prospective female business owners could access credit with interest rates as low as 1 per cent, noting that the process for accessing the credit facility was easy and stress-free.
“The EFEI loan is one of our several ways of further encouraging female entrepreneurs in the country. As a bank, we believe empowering women will enable them to play their role better in society and the economy.
“This loan would position them for increased participation, validation and contribution to their communities.
“The terms and conditions for accessing the loan are simple and easy such that many female entrepreneurs could readily avail themselves of the opportunity and grow their business,” she added.
The EFEI was introduced by the bank to assist women business owners.