Sterling Bank, in partnership with the Development Bank of Nigeria (DBN), has announced the launch of a ₦20 billion funding scheme aimed at improving access to finance for women-owned and women-led businesses across Nigeria.
Through this funding programme, eligible businesses can apply for loans of up to ₦75 million with flexible repayment options designed to encourage sustainable expansion. The scheme targets key sectors such as healthcare, education, agriculture, fashion, and food and beverage, which are areas where women-owned enterprises play a vital role in driving economic development.
According to Sterling Bank, “This initiative was created to remove the financial barriers that limit how far women can take their businesses.” Affordable financing can help women-led businesses expand their operations in key sectors of the economy. Each beneficiary will have access to growth-focused loans with a repayment period of up to three years.
Key Highlights of the Scheme:
- Total Fund Size: ₦20 Billion
- Maximum Loan Amount: ₦75 Million per business
- Repayment Period: Up to 3 years
- Target Group: Women-owned and women-led businesses in Nigeria
- Eligible Sectors: Healthcare, Education, Agriculture, Fashion, Food & Beverage
- Partners: Sterling Bank and Development Bank of Nigeria (DBN)
The programme offers women entrepreneurs access to capital to scale their ventures, alongside a flexible repayment plan and financial support from two credible national institutions.
To qualify, applicants must be female entrepreneurs or owners of registered businesses operating in Nigeria. Enterprises must be women-led or majority women-owned and active within one of the eligible sectors.
By creating this dedicated pool of capital, Sterling Bank and DBN aim to empower female founders with the resources needed to expand their businesses, strengthen financial inclusion, and drive wider economic growth.
