The Federal Government of Nigeria Calls on interested business owners for application for Rural Area Programme on Investment for Development (RAPID). This programme is aim to Financing Program for Micro and Small Businesses, as well as Community Groups. It will help business owners get funding and support for projects to grow micro and small businesses, and develop community infrastructure. The objective of the programme is aim at assisting communities in rural and economically disadvantage areas of the societies to tap into available resources for the development of more enterprises that can provide employment opportunities, to improve standard of living of the people, and contribute to national economic growth and reduce insecurity arising from youth restiveness.
The Bank hopes to achieve the forgoing through the RAPID initiative by providing financial support to all NANO, micro and small-scale businesses in the rural environments. In addition to financial support, beneficiaries would also have access to business advisory services and training programmes to ensure business viability, growth, and sustainability at the end. Read below for the aims and objectives of rural area programme on investment for development (RAPID)
AIMS OF RURAL AREA PROGRAMME ON INVESTMENT FOR DEVELOPMENT (RAPID)
TARGET MARKET
Those targeted in this programme include the following:
- Micro and Small Businesses and
- Community Groups in Rural Areas
FEATURES
The following are the features of the programme
- Tenor: Maximum of 3 years and
- Interest Rate: 5% per annum
ELIGIBILITY CRITERIA
These are the eligibility criteria for the programme.
- 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 THE RURAL AREA PROGRAMME ON INVESTMENT FOR DEVELOPMENT (RAPID)
Use the steps below for a hitch free registration:
- Click here to visit RAPID registration portal
- Validate your BVN
- Validate your NIN
- Fill the profile creating page. Enter your information correctly.
- Click SUBMIT. Check your email address for your confirmation email. Click on the email link to validate your account.
- Fill the required data correctly and submit. Take note of the APPLICATION ID
Application closes on May 29 2024
Contact BOI Email: customercare@boi.ng / call: 07002255264
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