BOI Rural Area Programme On Investment for Development (RAPID) 2024 | Apply Now
Applications are now open for Micro and Small business owners and rural community groups for the 2024 BOI Rural Area Programme On Investment for Development (RAPID). Interested Nigerians(individuals and groups) should submit their application now before the deadline.
Table of Contents
About RAPID
The objective of the BOI RAPID program is to assist communities in rural and economically disadvantaged areas to tap into available resources for the development of enterprises that can provide employment, improve the standard of living, contribute to national growth, and tame insecurity arising from youth restiveness. The Bank hopes to achieve the foregoing through the RAPID initiative by providing financial support to nano, micro, and small-scale businesses in rural locations. In addition to financial support, beneficiaries would also have access to business advisory services and training programs to ensure business viability, growth, and sustainability.
Target Audience
- Micro and Small Businesses
- Community Groups in Rural Areas
Features
- Tenor: maximum of 3 years
- Interest Rate: 5% per annum
Eligibility Criteria
- Completed Application Form
- Business Plan
- Acceptable Means of Identification
- BVN and NIN
- Proof of Residential Address
- Completed Guarantor Forms
- Other Terms and Conditions Apply
How to Apply for BOI Rural Area Programme On Investment for Development
Interested and eligible candidates should submit their application form online via the BOI RAPID application portal here https://rapid.boi.ng/ before the application deadline.
Application Deadline
The deadline to apply for this is 29th May.
