Applications are now open for the Rural Area Programme On Investment for Development (RAPID). The programme is designed to support people living in rural and economically disadvantaged communities by helping them grow businesses, create jobs, and improve living standards.
The initiative aims to assist nano, micro, and small-scale businesses with funding and business support. It also seeks to reduce youth restiveness by creating economic opportunities for young people and women in rural areas.
Programme Benefits
The RAPID programme provides financial support for businesses and community projects in rural areas. Beneficiaries will also receive business advisory services and training programmes to help improve business growth and sustainability.
The programme focuses on:
- Empowering rural businesses, especially youth and women entrepreneurs
- Creating jobs through business growth
- Promoting economic activities beyond traditional farming
- Supporting community infrastructure development
Target Beneficiaries
- Micro and Small Businesses
- Community Groups in Rural Areas
Programme Features
- Maximum repayment period of 3 years
- Interest rate of 5% per annum
Eligibility Criteria
Applicants must provide the following:
- Completed application form
- Business plan
- Acceptable means of identification
- BVN and NIN
- Proof of residential address
- Completed guarantor forms
Applicants are advised to prepare all required documents before starting the application process.
How to Apply
Interested applicants should visit the official RAPID portal to complete their registration http://rapid.boi.ng/register.
More details here…
