How to Apply for Bank of Industry (BoI) RAPID Grant for SMEs Bank of Industry (BoI) has launched a new empowerment initiative known as the Rural Area Programme On Investment for Development (RAPID). Here’s how to apply for the BoI RAPID Grant.
Description of RAPID Programme:
The Rural Area Programme on Investment for Development (RAPID) is an endeavor by the Bank of Industry (BoI) designed to foster sustainable development, job creation, and economic empowerment in rural communities across Nigeria. It offers financial assistance, business advisory services, and training programs tailored to rural entrepreneurs, particularly micro, small, and medium enterprises (MSMEs).
Eligibility Criteria:
Enterprises and Cooperative Societies that are duly registered and operate in rural or economically disadvantaged regions of Nigeria are eligible to apply for the RAPID Programme.
Supported Business Types:
RAPID extends support to value-adding activities, excluding trading and farming. These encompass ventures in manufacturing, agribusiness, processing, and other endeavors contributing to economic diversification and employment generation in rural areas.
Financial Assistance:
Beneficiaries stand to receive a loan of up to N10 million to procure machinery, equipment, and raw materials necessary for their daily operations.
To apply for the BoI RAPID Grant, visit the application link provided.
Eligibility Criteria:
a. Completed Application Form
b. Business Plan
c. Acceptable Means of Identification: BVN and NIN
d. Proof of Residential Address
e. Completed Guarantor Forms
f. Other Terms and Conditions Apply
How to apply:
Interested applicants should apply via https://rapid.boi.ng
Application closing date: 29th May 2024
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How to Apply for Bank of Industry (BoI) RAPID Grant for smes