Application Deadline: May 29, 2024.
Applications are now open for the 2024 BOI Rural Area Programme On Investment for Development (RAPID). The objective of the BOI RAPID programme 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 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 the rural locations. In addition to financial support, beneficiaries would also have access to business advisory services and training programmes to ensure business viability, growth, and sustainability.
Target Market
- 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
For More Information:
Visit the Official Webpage of the BOI Rural Area Programme On Investment for Development (RAPID)