Access Bank Deepens Support For Women-owned Businesses With Enhanced Collateral-Free W Power Loan

 

   

By allcitynews.ng 

In a fresh move to strengthen women-owned businesses across Nigeria, Access Bank Plc has unveiled an enhanced version of its flagship W Power Loan.

The move is offering female entrepreneurs easier access to collateral-free financing, flexible repayment options and business support services designed to accelerate growth.

The upgraded facility reflects the bank’s continued commitment to closing the financing gap that has long constrained many women-led enterprises, particularly those seeking capital to expand operations, acquire equipment or improve business efficiency.

Speaking on the initiative, the Group Head of Women Banking at Access Bank Plc, Nene Kunle-Ogunlusi, said the enhanced W Power Loan was specifically designed to address the financing challenges women entrepreneurs face, including limited access to affordable credit and stringent collateral requirements.

According to her, women-owned businesses remain critical contributors to economic growth, innovation and job creation, yet many struggle to secure the funding needed to scale.

“Women-owned businesses play a vital role in driving economic growth and job creation, yet many continue to face barriers in accessing the financing required to scale. The enhanced W Power Loan is our response to these challenges, providing women entrepreneurs with easier access to funding and the support they need to grow sustainable businesses,” she said.

Under the enhanced package, eligible women entrepreneurs can now obtain collateral-free loans of up to ₦10 million in selected sectors. For businesses requiring larger funding, qualified applicants can access up to ₦20 million without physical collateral through a third-party guarantee arrangement.

Beyond improved access to capital, the facility offers competitive interest rates, flexible repayment plans and simplified loan conditions aimed at making financing more accessible to women at different stages of business growth.

The W Power Loan also caters to a broad range of business needs, including working capital, business expansion, asset acquisition, vehicle financing, renewable energy through solar solutions and home financing to support wealth creation and investment opportunities.

Kunle-Ogunlusi stressed that the initiative is also intended to reshape how women perceive business financing.

“Many women entrepreneurs delay business growth while relying solely on personal savings. Through the W Power Loan, we want to encourage women to see financing as a strategic tool that can accelerate growth, unlock opportunities and create long-term value when properly structured and managed,” she added.

She noted that Access Bank’s commitment extends beyond providing credit. Through its W Initiative, the bank continues to empower women with capacity-building programmes, business advisory services, networking opportunities and market access platforms that have enabled thousands of female entrepreneurs to expand their businesses and create employment.

The enhanced W Power Loan is expected to benefit women-owned micro, small and medium-sized enterprises (MSMEs), professionals, female business owners seeking expansion capital, startups led by women and entrepreneurs looking to acquire productive assets or improve operational efficiency.

Interested applicants can obtain more information by visiting any Access Bank branch nationwide to speak with a Relationship Manager or send an

email to wcares@accessbankplc.com for more information.

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