The National Credit Guarantee Company (NCGC) is proud to extend its strategic support through a partial Credit Guarantee to the Bank of Industry’s GLOW (Guaranteed Loans for Women) Project, a ₦10 billion loan initiative aimed at fostering growth for women-owned businesses in Nigeria. This partnership underscores NCGC’s dedication to empowering women entrepreneurs by reducing financial barriers and enhancing access to affordable credit.
As part of its mission to deepen financial inclusion and unlock economic opportunities, NCGC has committed a 25% Credit Guarantee Cover on the principal loan amount for this project. This guarantee mitigates lender risk, enabling the BOI to confidently extend loans to qualified women-led businesses in high-impact sectors, including manufacturing and processing; ICT, digital marketing, and e-commerce; the creative industry and entertainment; healthcare and fitness; education; renewable energy; waste management; and other viable, value-adding enterprises.
By providing this essential risk cover, NCGC not only facilitates broader credit access but also aligns with its core objectives of promoting responsible lending and supporting inclusive growth nationwide.
Key Features Supported by NCGC’s Guarantee in the GLOW Project
* Loan Tenor: Up to 5 years
* Interest Rate: 7% per annum (all-inclusive)
* Obligor Limit: Up to ₦50 million per beneficiary
* Eligibility: Open exclusively to women-owned businesses
* Loan Fund Size: ₦10 billion dedicated to supporting women across priority sectors
Benefits Enabled by NCGC’s Involvement
* Low, highly competitive interest rates to ease financing costs.
* NCGC Credit Guarantee cover, improving loan accessibility and lender confidence.
* Fast and efficient approval process to accelerate business growth timelines.
* Mentorship and expert advisory support, equipping beneficiaries with strategic business guidance.
* Capacity and skill development opportunities, enabling women to strengthen operational capabilities and scale sustainably.
Through its backing of initiatives like the GLOW Project, NCGC continues to play a pivotal role in enabling responsible credit expansion and advancing national priorities for inclusive economic development. By offering guarantees that reduce risks and build lender assurance, NCGC ensures that more women entrepreneurs gain the capital, skills, and resources needed to innovate, compete, and drive Nigeria’s economic transformation.
NCGC remains steadfast in its commitment to fostering a stronger, more inclusive financial ecosystem, where women-led businesses are empowered with the opportunities and support to thrive.