The Bank of Industry (BOI) has officially opened applications for its Rural Area Programme on Investment for Development (RAPID) initiative.
The scheme is designed to provide low-interest financing to nano, micro, and small-scale businesses across Nigeria, helping entrepreneurs expand their operations, create jobs, and contribute to economic growth.
If you operate a small business or community enterprise, this is an excellent opportunity to access affordable funding with flexible repayment terms.
Key Features of the BOI RAPID Loan
Affordable Interest Rate
- Only 5% interest per annum
Flexible Repayment
- Repayment period of up to 3 years
Business Support Services
Successful applicants will also benefit from:
- Free business advisory services
- Entrepreneurship support
- Business management training
Who Can Apply?
The program is targeted at:
- Micro and Small Businesses
- Youth Entrepreneurs
- Women Entrepreneurs
- Community-Based Enterprises
- Businesses located in rural and developing communities
Requirements for Application
Applicants should prepare the following documents before starting their registration:
- Valid Bank Verification Number (BVN)
- National Identification Number (NIN)
- Valid Means of Identification
- National ID Card
- Voter’s Card
- International Passport
- Proof of Residential Address
- Completed Guarantor Forms
- Business Plan
- CAC Registration Certificate
How to Apply for the BOI RAPID Loan
Step 1
Visit the official BOI RAPID application portal:
Step 2
Enter your BVN and NIN to verify your identity.
Step 3
Provide your personal information, including:
- Full Name
- Date of Birth
- Email Address
- Secure Password
Step 4
Accept the terms and conditions and complete the business information form.
Important Warning
⚠️ The Bank of Industry does not charge any application fee for this loan.
Applicants should avoid individuals or groups requesting payment for registration or loan processing.
Always apply through the official portal only.
Official Application Portal
Apply Here:
https://rapid.boi.ng/register
Conclusion
The BOI RAPID Loan Programme offers a valuable opportunity for Nigerian entrepreneurs to access affordable funding, business training, and support services.
Interested applicants are encouraged to complete their applications early and ensure all required documents are available before registration.