The Federal Government, through the Nigerian Consumer Credit Corporation (CREDICORP), in partnership with Sytiamo Technologies, has launched an inventory finance scheme targeting 10,000 market women across 224 markets in Nigeria
The programme started with Ariaria Market in Aba, Abia State.
This initiative is specifically designed to support women traders, who form the backbone of Nigeria’s informal economy, by providing access to up to N100,000 in business credit.
The loan comes with a 50% reduction in interest rates, allowing beneficiaries to grow their businesses under flexible and affordable conditions.
The programme is part of a larger financial inclusion drive that uses credit not only as a tool for economic growth but also as a pathway to social empowerment.
To get started, interested individuals must explore available credit options and select a Participating Financial Institution (PFI) that best suits their needs.
After choosing a PFI, they can submit a loan application through that institution and, once approved, receive their funds.
The credit journey begins by filling out the CREDICORP interest form via www.credicorp.ng.
Here is a comprehensive list of participating financial institutions under the CREDICORP inventory finance programme, along with how to apply through each one:
Credit Direct is offering Buy Now Pay Later and personal loans targeted at civil servants under the CREDICORP inventory finance initiative.
The loans come with a flexible tenure of up to 24 months and are known for their speed, with an average turnaround time of just 15 minutes after application.
Applicants can begin the process by dialling *5120# on their mobile phones, connecting via WhatsApp on +234 907 030 9430, or by visiting the loan portal at https://portal.creditdirect.ng.
This institution is well-suited for applicants who prefer fast processing and minimal paperwork.
Accion MFB is providing loans to the general public, including market women and small-scale entrepreneurs.
The application process is simple and accessible. Applicants can either visit any Accion branch nationwide, call the support line on +234 700 022 2466, or apply via the AccionMonie mobile app.
Accion’s wide coverage and digital infrastructure make it a convenient choice for applicants who may not be familiar with complex banking processes.
Accion’s wide coverage and digital infrastructure make it a convenient choice for applicants who may not be familiar with complex banking processes.
Letshego MFB is focused on providing loans for teachers and also supports renewable energy financing under the programme.
Market women and individuals working in the education sector can approach the Letshego branches directly to apply.
The institution has made it easier for applicants to speak with representatives by calling +234 905 391 1450. Letshego’s targeted lending approach allows borrowers in specific professions to benefit from tailored loan packages.
Abbey Mortgage Bank is offering a variety of loans under the initiative, including for renewable energy, school fees, and home improvement.
These loan options are ideal for women traders seeking both business expansion and household support.
To apply, applicants should visit the application portal via http://www.shorturl.at/7bBkK or contact the bank through its dedicated phone line at 02012271695.
Fewchore Finance provides renewable energy and personal loans with repayment periods of up to 24 months.
The application process is fully digital, with an average turnaround time of 15 minutes. Interested applicants can download the mobile app from the Google Play Store or the Apple App Store.
Alternatively, they can visit https://www.fewchorefinance.com/ for more information. This option is ideal for tech-savvy market women who prefer convenient, app-based borrowing.
Autochek offers car loans tailored to buyers of both used and new vehicles. For used cars, the repayment tenure ranges from 6 to 36 months, while for new cars, it is between 4 to 6 months.
Applications are processed within 24 to 48 hours. People interested in acquiring vehicles for business logistics can apply through the Autochek mobile apps available on Android and iOS or by visiting https://autochek.africa/ng.
Fast Credit provides BNPL loans, personal loans, and renewable energy loans with a tenure of 24 months.
Applicants can apply online through https://fastcredit-ng.com/loan/apply or download the Fast Credit app from the Google Play Store. Support is also available at https://fastcredit-ng.com/contact.
Fast Credit suits applicants who value digital channels and need a reliable turnaround within 24 hours.
Page Financials is extending various types of loans, including BNPL, personal, and renewable energy loans. Loan tenure is up to 24 months with an average processing time of 48 hours.
Public sector workers can apply through https://pagefinancials.com/ippis/, while private sector employees can use https://pagefinancials.com/registration/.
Lagos State employees also have a dedicated portal via https://pagefinancials.com/LASG/. Walk-in applications are accepted at branches in Ikoyi, Ikeja, Ibadan, and Abuja.
Optimus Bank is participating in the CREDICORP initiative by offering personal and renewable energy loans.
These loans come with a tenure of up to 24 months and a 48-hour turnaround time. Applicants can use the Optimus Bank mobile app available at https://www.optimusbank.com/mobile-app.
Physical branches are also open to applicants at Victoria Island, Yaba, and other parts of Lagos.
Wema Bank is extending personal and renewable energy loans with a 12-month repayment tenure. Loans are typically disbursed within 24 hours.
Individuals can apply using Wema’s ALAT app available on Google Play and Apple Store, or through the web portal https://online.alat.ng/.
Wema Bank is ideal for applicants seeking short-term loans with fast disbursement.
Ecobank is offering personal loans and asset financing options such as BNPL under the programme. The loan tenure extends up to 48 months with a 24-hour average turnaround time.