CALL FOR APPLICATION: Rural Area Programme on Investment For Development (RAPID)

Financing Program for Micro and Small Businesses, as well as Community Groups

Get funding and support for projects to grow micro and small businesses, and develop community infrastructure.

The objective of the programme is to assist communities in rural and economically disadvantaged areas to tap into available resources for the development of enterprises that can provide employment, improve standard of living, contribute to national growth and tame insecurity arising from youth restiveness. The Bank hopes to achieve the foregoing through the RAPID initiative by providing financial support to nano, micro and small-scale businesses in the rural locations. In addition to financial support, beneficiaries would also have access to business advisory services and training programmes to ensure business viability, growth, and sustainability.

TARGET MARKET

1) Micro and Small Businesses

2) Community Groups in Rural Areas

FEATURES

1) Tenor: maximum of 3 years

2) Interest Rate: 5% per annum

ELIGIBILITY CRITERIA

1) Completed Application Form

2) Business Plan

3) Acceptable Means of Identification

4) BVN and NIN

5) Proof of Residential Address