Direct Link Address to Apply for RAPID Loan/Grant

Rural Area Programme On Investment for Development (RAPID)

Your Gateway to Empowerment and Growth

The objective of the 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 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 programmes to ensure business viability, growth, and sustainability.

Objectives:

- Empowerment: Provide resources, skills, and opportunities to businesses local in rural areas, particularly MSMEs, with a focus on Youth and Women entrepreneurs.

- Job Creation: Stimulate job creation, particularly for youth and women, through the growth and expansion of rural enterprises.

- Economic Diversification: Promote the development of diverse economic activities beyond traditional agriculture in rural areas.

Financing Program for:

- Micro and Small Businesses

- Community Groups

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

Apply Now - Application closes May 29, 2024.

- Visit: rapid.boi.ng/register

- Email: customercare@boi.ng

- Call: 0700-CALL-BOI | 0700 225 5264

- Switchboard: (+234)-02-012715070-71

Application closes May 29, 2024.

Email: customercare@boi.ng