FCMB (SME loans) — review & details
FCMB runs a dedicated SME lending desk with a wide facility menu: SME working capital, asset finance, invoice discounting, local purchase order (LPO) finance, a quick loan, solar financing and an SME development finance facility — all listed on fcmb.com. FCMB has one of the stronger SME reputations among Nigerian commercial banks.
FCMB (SME loans)
★★★★☆
Working capital, asset finance, invoice discounting, LPO finance, quick loans
Loan Type
Facility-dependent; agreed at application
Tenor
Commercial bank (CBN-licensed)
Licence
Quick Loan is digital; structured facilities follow a standard credit process
Speed
Trading and contracting SMEs that need invoice or LPO finance as well as working capital
Best For
bank
Type
Pros
- Unusually broad facility menu — invoice discounting and LPO finance suit contractors and suppliers
- Established SME banking franchise with nationwide branches
- Digital Quick Loan available for smaller, faster needs
Cons
- No amounts, tenors or rates are published on the public pages — everything is quoted at application, and naira SME credit is costly
- Structured facilities involve full credit assessment and usually security or domiciliation of receivables
- You will likely need to move your business banking to FCMB to access the best terms
Fees, eligibility & documents
Fees
InterestNot published on fcmb.com — quoted per facility. Nigerian SME lending prices off a high prime rate; confirm the live offer and all fees before drawing down.
Eligibility
- Registered business (CAC)
- Business account with FCMB (or willingness to open one)
- Trading history, contracts or invoices to support the facility requested
Documents needed
- CAC registration documents
- Bank statements and management accounts
- Invoices/LPOs for receivables-backed facilities
How FCMB (SME loans) compares in business loans
| FCMB (SME loans) | Bank of Industry (BOI) | Development Bank of Nigeria (DBN) | |
|---|---|---|---|
| Loan Type | Working capital, asset finance, invoice discounting, LPO finance, quick loans | — | — |
| Tenor | Facility-dependent; agreed at application | — | — |
| Licence | Commercial bank (CBN-licensed) | — | — |
| Speed | Quick Loan is digital; structured facilities follow a standard credit process | — | — |
| Best For | Trading and contracting SMEs that need invoice or LPO finance as well as working capital | Registered SMEs with a solid plan | Longer-term MSME finance |
| Visit FCMB → | Visit BOI → | Visit DBN → |
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