BOI Begins Approval of RAPID Loan Applications

The Bank of Industry (BOI) has commenced the approval process for applicants under the Rural Area Programme on Investment for Development (RAPID) loan scheme. Applicants who applied for the BOI RAPID loan are advised to regularly check their dashboard, as loan approvals have begun.

Successful applicants will see their Application Status displayed as “Approved” on the dashboard.

Application Requirements: If an application is successful, the applicant will be required to provide the following:

1. One (1) guarantor for loans up to N5 million, and two (2) guarantors for loans above N5 million.
2. A lien on the assets financed.
3. Execution of a GSI mandate.

Please note that the application form can no longer be edited after submission.

To check the status of your BOI RAPID loan application, visit https://rapid.boi.ng/login to confirm whether your application has been approved.