The Bank of Industry (BOI) invites applications for the Rural Area Programme on Investment for Development (RAPID), an initiative designed to empower micro and small businesses as well as community groups in Nigeria’s rural areas with funding and support to scale their operations and build sustainable community infrastructure.
About RAPID
RAPID is part of BOI’s Renewing Hope agenda aimed at accelerating grassroots economic development by providing accessible financing to rural entrepreneurs and community-based enterprises. The programme supports innovative projects that can drive local productivity, create jobs, and enhance livelihoods in underserved communities.
Target Beneficiaries
The RAPID Programme is open to:
* Micro and small businesses operating in rural areas
* Community groups with projects focused on community development
Funding Features
- Loan amount: Up to ₦10,000,000
- Loan tenor: Up to 3 years
- Interest rate: 5% per annum
Why You Should Apply
This programme offers a vital opportunity for rural entrepreneurs and community groups to access affordable financing to grow their businesses, expand production, improve local infrastructure, and contribute to Nigeria’s economic development.
How to Apply
Interested and eligible applicants should visit [https://rapid.boi.ng]to complete the online application form and access the programme guidelines.
