How To Apply: Rural Area Programme on Investment For Development (RAPID) Registration Portal

Rural Area Programme on Investment For Development (RAPID) Registration Portal.

Are you a micro or small business owner in a rural area? Are you part of a community group looking to develop community infrastructure? If so, we have exciting news for you! The Rural Area Programme on Investment For Development (RAPID) is now accepting applications for its financing program.

PROGRAM OVERVIEW 

This program aims to provide funding and support for projects that will help grow micro and small businesses, improve the standard of living in rural areas, and contribute to national growth. It’s time to tap into the available resources and unleash the potential of your enterprise!

PROGRAM OBJECTIVES

The objective of the Rural Area Programme on Investment For Development initiative is to assist communities in rural and economically disadvantaged areas. By providing financial support to nano, micro, and small-scale businesses, the program aims to achieve the following:

1. Employment Generation: Create opportunities for employment in rural areas.
2. Improved Standard of Living: Enhance the quality of life for individuals residing in rural communities.
3. Contribution to National Growth: Foster economic growth and development at the national level.
4. Addressing Youth Restiveness: Tame insecurity arising from youth restiveness through economic empowerment.

To ensure the success and sustainability of the supported businesses, RAPID goes beyond financial support. Beneficiaries will also have access to business advisory services and training programs. These additional resources will help ensure the viability, growth, and sustainability of your business.

TARGET MARKET

RAPID is specifically designed for two main target groups:

1. Micro and Small Businesses: If you own a micro or small business in a rural area, this program is tailored to meet your needs. Whether you’re looking to expand your operations, invest in new equipment, or launch a new product, RAPID can provide the financial support you need to make it happen.
2. Community Groups in Rural Areas: If you’re part of a community group that is working towards developing community infrastructure, RAPID is here to support your efforts. Whether it’s building a community center, improving access to clean water, or enhancing educational facilities, RAPID can provide the funding you need to bring your projects to life.

PROGRAM FEATURES

To give you a better understanding of what RAPID offers, here are some key features of the program:

1. Tenor: The maximum duration of the financing provided by RAPID is 3 years.
2. Interest Rate: The interest rate for the financing is set at a competitive rate of 5% per annum.

ELIGIBILITY CRITERIA

To be eligible for the RAPID program, applicants must meet the following criteria:

1. Completed Application Form: Fill out the application form provided by RAPID.
2. Business Plan: Submit a comprehensive business plan outlining your goals, strategies, and financial projections.
3. Acceptable Means of Identification: Provide valid identification documents.
4. BVN and NIN: Submit your Bank Verification Number (BVN) and National Identification Number (NIN).
5. Proof of Residential Address: Provide documentation that verifies your residential address.
6. Completed Guarantor Forms: Submit the necessary guarantor forms as required by RAPID.
7. Other Terms and Conditions Apply: Please review the additional terms and conditions of the program to ensure compliance.

APPLICATION PROCESS

Ready to apply? The application period for RAPID is open now, but don’t wait too long! The deadline for applications is May 29, 2024. To submit your application, visit the RAPID website at rapid.boi.ng/register. Take this opportunity to access the financial support and resources you need to take your business or community project to the next level. Remember, RAPID is here to support you in realizing your dreams and making a positive impact in your rural community.

Click the link below to Apply now and seize the opportunity for growth and development! Visit: rapid.boi.ng/register

Note: Application closes May 29, 2024.