Access Bank Plc has announced a significant enhancement of its flagship W Power Loan, further strengthening its commitment to empowering women entrepreneurs with accessible, affordable and growth-focused financing solutions.
The upgraded facility is designed to address the evolving needs of women-led businesses by providing improved access to capital, faster loan processing, flexible repayment structures and expanded financing opportunities that support business growth, sustainability and long-term wealth creation.
Speaking on the enhancement, Nene Kunle-Ogunlusi, Group Head, Women Banking at Access Bank Plc, stated that the ‘W’ Power Loan was developed to help bridge critical financing gaps faced by women entrepreneurs, particularly challenges relating to collateral requirements, access to affordable credit and business expansion funding.
“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.
As part of the upgrade, women-led businesses can now access collateral-free loans of up to ₦10 million in select sectors. In addition, qualified entrepreneurs can obtain financing of up to ₦20 million without physical collateral, supported by a third-party guarantee agreement.
The enhanced offering also features competitive interest rates, flexible repayment options, relaxed collateral requirements, and access to a range of non-financial support services.
The ‘W’ Power Loan suite provides tailored financing solutions to meet diverse business needs, including working capital support, business expansion and asset acquisition. This product also avails vehicle financing to improve mobility and logistics, solar financing solutions that help reduce energy costs, as well as home financing designed to support home ownership, rental income opportunities and long-term wealth creation.
According to Nene Kunle-Ogunlusi, the enhancement goes beyond improving access to credit and seeks to change the way women entrepreneurs view 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.
Through its ‘W’ Initiative, Access Bank continues to champion women’s economic empowerment by providing support that extends beyond financing. The initiative offers capacity-building programmes, networking opportunities, business advisory services, and market access platforms that have helped thousands of women entrepreneurs grow their businesses, create jobs and contribute meaningfully to economic development.
Women entrepreneurs interested in accessing the enhanced W Power Loan can visit any Access Bank branch nationwide to speak with a Relationship Manager or send an email to wcares@accessbankplc.com for more information.