Application Extended: BOI Rural Area Programme On Investment for Development

The Bank of Industry (BOI) has extended the closing date for the 2024 BOI Rural Area Programme On Investment for Development (RAPID) from May 29 to June 12, 2024. The Bank announced that this is to provide more entrepreneurs and those in the rural arras more time and the opportunity to apply for the program. APPLY HERE

The main objective of this program is to support communities in rural and economically disadvantaged areas by utilizing the available resources for the development of enterprises.

These enterprises will not only provide employment opportunities but also enhance the standard of living, contribute to national growth, and address the issue of insecurity caused by youth restiveness.

The RAPID initiative aims to achieve these goals by offering financial assistance to nano, micro, and small-scale businesses located in rural areas. Along with financial support, beneficiaries will also have access to business advisory services and training programs to ensure the viability, growth, and sustainability of their businesses.

Target Market: BOI Rural Area Programme On Investment for Development

1. 1. The target market for this program includes micro and small businesses

1. 1. community groups in rural areas.

Features: BOI Rural Area Programme On Investment for Development

1. 1. The program features a maximum tenor of 3 years

1. 1. Interest rate of 5% per annum.

Eligibility: BOI Rural Area Programme On Investment for Development

1. 1. To be eligible for the program, applicants must submit a completed: application form, a business plan, acceptable means of identification, BVN and NIN, proof of residential address, and completed guarantor forms.

1. 1. Other terms and conditions also apply.

Application: BOI Rural Area Programme On Investment for Development

1. 1. For details visit the official webpage of the BOI Rural Area Programme On Investment for Development (RAPID).

1. 1. Deadline Extended to June 12, 2024