The Bank of Industry BOI has come up with a new initiative called the Rural Area Programme On Investment for Development (RAPID) and is calling on all interested applicants to apply for the program.
Before we begin to answer the ‘how do I apply?’ question, let us get a detail of what this particular initiative is all about.
What is the RAPID Programme?
The Rural Area Programme on Investment for Development (RAPID) is an initiative by the Bank of Industry (BOI) aimed at fostering sustainable development, job creation, and economic empowerment in rural communities throughout Nigeria. It provides financial support, business advisory services, and training programs to rural entrepreneurs, particularly micro, small, and medium enterprises (MSMEs).
Who Can Apply For The RAPID Programme?
Duly registered Enterprises and Cooperative Societies operating in rural or economically disadvantaged areas of Nigeria are eligible to apply.
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What Category of Businesses Does RAPID Support?
RAPID will provide support in value-adding activities excluding trading and farming. These include activities in manufacturing, agribusiness, processing, and other ventures contributing to economic diversification and job creation in rural areas.
What Financial Aid Does RAPID Provide?
Beneficiaries would be eligible for a loan of a maximum of N10 million to acquire plants/machinery and raw materials for their day-to-day operations.
BOI Rapid Empowerment Program Application Requirements
- 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 Rapid Empowerment Program
Individuals who are Interested in applying should do so via https://rapid.boi.ng
Application Deadline: 29th May 2024.
Agip estate Road 15 flat 4a
Market point
It good to educate people about this