How To Easily Access Federal Government MSME Survival Fund

How To Easily Access Federal Government MSME Survival Fund

As the Federal Government Survival Fund is still ongoing, it will be a nice time to walk you through how to access the fund, so make sure you read until the end.

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The MSMEs Survival Fund is implemented by the Buhari Administration to help cushion the impact of the COVID-19 pandemic with a view to boosting the economy by saving existing Jobs and creating new job opportunities. The scheme is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard Jobs in the MSMEs sector. The scheme is estimated to save not less than 103 million jobs across the country and specifically impact over 35,000 individuals per state.

Eligibility Criteria For Survival Fund in Nigeria

• Must Be Resident in Nigeria
• Official Government Identification
• Notarized Guarantor Forms
• Passport photographs
• Training Certificate
• CAC registration

How Survival Fund Process Work

Step 1: Onboard

After registering on the Survival Fund platform, the next is to complete the onboarding process by adding Organisation, Bank, and Employees details. This stage is only possible after you have received the verification code on your mobile phone and use it to activate your profile account.

Step 2: Register Your Organisation in Survival Fund

Once you have successfully onboarded, you can register your Organisation. You will need basic information like CAC registration information to complete this Survival Fund stage.

Step 3: Get Paid

Finally, once the information you provided during survival fund registration has been verified and has met the selection criteria, your application will be eligible for payment as specified under the scheme applied for.

How is The MSME Survival Fund Helping MSMEs

PAYROLL SUPPORT – Supports 500,000 thousand MSMEs in meeting payroll obligations of between 30 thousand Naira to 50 thousand Naira per employee over the period of three (3) months.

FORMALISATION SUPPORT – Provide free CAC business name registration for 250,000 businesses.

GENERAL GRANT – Support the survival of 100,000 businesses most affected by the covid-19 pandemic with 50,000 Naira each.

Survival Fund Available Support

Survival Fund Payroll Support: – Assists in paying employees of a business
Survival Fund Guaranteed Offtake: – Assists businesses to kick start or in rebuilding
Survival Fund MSME Grant: – Free grants for Micro, Small, and Medium-sized Enterprises.

How to Register for Survival Fund 2021

The following steps will guide you in registering for the survival fund 2021 program;

• Proceed to the Survival fund registration portal survivalfund.gov.ng 
• Click on the ‘Start Here’ button, which will take you to the survival fund application form options
• Select the appropriate category you want to apply for. The categories are: Payroll Support Register, MSME Grant Register, and Guaranteed Offtake Register
• Fill in your information correctly to avoid disqualification during verification.

After successful registration, you will;

• Receive an Activation Code on your mobile phone, use the code to activate your profile.
• Log in to your profile to proceed with the onboarding process.

How To Easily Access Federal Government MSME Survival Fund