Although Nigeria has the highest number of female entrepreneurs in the world, funding for this demographic has largely been disproportionate. Asides social impediment Nigerian Women face, institutional lenders such as commercial banks are inaccessible to many MSMEs.
Femfunds is a social enterprise that provides interest free and collateral free loans to women-led micro, small and medium enterprises(MSMEs) in Nigeria.
We want to give women with small businesses everything they need to build profitable businesses which in turn creates a cycle of empowered women who go on to empower other women.
After evaluating the current landscape, we have come up with some metrics that are important to Femfunds when providing loan facilities.Consequently, we provide financing to accelerate the following:
The bottom line for us is to create sustainable female-led businesses that can positively contribute to Nigeria’s economic development
We provide interest free loans to (with no collateral) and other resources (branding and advisory) to female run small businesses with the aim to make them profitable, structured and positioned for growth in a social media age.
At Femfunds, we hold two main beliefs:
We therefore work to provide hassle-free financing to enable these businesses grow and expand.
We economically empower the African woman by providing the tools (capital, advisory, branding) they need build their business and become profitable, creating a cycle of empowered women who go on to empower other women on our platform and in their lives.
We help female run small businesses by providing interest free loans with no collateral.
We offer mentoring, coaching and workshops on branding, marketing and other intellectual resource to help the businesses.
Here are some of the factors we consider in evaluating businesses.