In this article, you will get the best steps and guidance needed for a successful Survival Fund Application 2020. The survival fund registration is ongoing at the Survival Fund portal – www.survivalfundapplication.com. All Nigerian entrepreneurs are encouraged to apply to get support from the Federal Government. See the steps and guide to apply below.
What is Survival Funds?
MSME Survival fund is a Federal Government grant (Not a loan) given to support vulnerable micro and small enterprises in Nigeria to help them meet their payroll obligations and safeguard Jobs in the MSMEs sector.
This is part of the Federal Government of Nigeria Economic Sustainability Plan, which aims to support and protect small and medium scale businesses from the potential vulnerabilities brought about by the COVID-19 pandemic.
The MSME Survival Fund is a conditional grant to support The scheme is estimated to save not less than 1.3million jobs across the country and specifically impact on over 35,000 individuals per state.
The aim of the MSME Survival fund is to boost the economy by saving existing jobs and creating new job opportunities.
Survival Funds Categories
Payroll Support: Support 500,000 vulnerable MSMEs in meeting payroll obligations of between N30,000 to N50,000 per employee over 3months. The MSME Payroll Support Scheme is a survival fund that will make payroll support available to save jobs and sustain local production.
Formalisation Support: Provide free CAC Business Name registration for 250,000 new businesses. The registration of 250,000 New Business Names with CAC. The Federal Government will be providing 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 N50,000 each. The Credit Support to MSMEs and Priority Sector will provide affordable finance to key sectors impacted by the pandemic and enable an increase in manufacturing capacity in priority sectors.
Artisan/Transport Support: Provide 333,000 artisans and transport business operators with a N30,000 operations grant to reduce the effects of income loss.
Guaranteed Offtake Scheme: Bulk purchase of products from 100,000 MSMEs to protect jobs and livelihoods. The MSME Guaranteed Offtake Scheme is one of the Federal Government’s economic support measures to assist micro and small businesses affected by the pandemic.
Things you need to know about Survival fund Nigeria
Duration: The scheme will be implemented over an initial period of three months in order to provide immediate relief from the economic impact of the pandemic.
Target Beneficiaries: The scheme targets two categories of beneficiaries namely; employees of MSMEs and Self-employed individuals, both schemes have made provision for a 45% female business participation and special needs participation of 5%.
Survival fund Requirements
A. Employees’ company Must be registered in Nigeria under the Corporate Affairs Commission, CAC
B. Must have BVN by company CEO
C. Must have a staff strength of no less than 3 persons
D. Must be owned by a Nigerian
Self-employed Individuals in the following categories
A. Service providers in the transportation sector, le. Bus drivers, Taxi drivers, Ride share drivers. (Uber, Bolt Taxify etc) and Mechanics
B. Artisans, Electricians Plumbers etc.
How to Apply for Survival Fund Application 2020 – 14 Steps and Guide
The Federal Government has launched the Survival Fund portal to help with the registration, onboarding and management of Micro, Small and Medium Enterprises for the Federal Government Survival Fund Program.
Follow the steps below to apply:
1. Go to the survival fund registration portal www.survivalfundapplication.com to register on the CRM_MIS Platform.
2. Click on the ‘START HERE’ button displayed on the homepage, to begin your registration
3. Select ‘Payroll Support Register’ *The MSME Payroll Support Scheme is a survival fund that will make payroll support available to save jobs and sustain local production.
4. The Head of Business is expected to fill in his/her personal details in this section. *Please ensure that you have access to the mobile phone number and email address that you use for the registration. Use a password you can easily remember.
5. Upon registration, you will receive an activation code on the registered mobile number and email address. You will be prompted to enter the activation code HERE to activate your account. *If you did not receive the activation code, kindly click on ‘Don’t have an activation code’ to resend code again.
6. Account has been successfully activated. Click on ‘Login Here’ to continue.
7. Login with your registered phone number and password.*If you forgot your password, kindly click on ‘Forgot Password’ to reset your password.
8. Welcome to your dashboard!*You can update your residential address, by clicking on the ‘Update Address’ button on the dashboard. *Please note that all requested information must be submitted here. Do not submit via email!
9. Click on ‘Manage Organisation’ on the side menu or on the dashboad to add your organisation details. *Please note that the boxes with * are compulsory.*After lling the information, scroll down and click on ‘Add Organisation’ to submit.
10. Click on ‘Manage Account’ on the side menu or on the dashboard, to add the organisation’s account detail. *The Bank Verication Number (BVN), Account Number and Bank Name. Please make sure the numbers are correct. Click on ‘Add Account’ to submit.
11. Click on ‘Manage Employees’ on the side menu, to add employee details. *Enter the BVN, Account Number and Bank Name for a minimum of 3 persons and a maximum of 10 persons.
IMPORTANT THINGS TO NOTE
Enter your employees details in order of priorty.*Upload 3 months ‘Proof of Salary Payment to Beneciary Employee’ (2MB maximum le size).*Proof of Salary Payment can be your bank statement, payment advice or pay slips. It should be a jpeg image or pdf document. *Compress your document, If the le size is above 2MB, using www.smallpdf.com,www.pdfcompressor.com or any other compressor.*Avoid duplicate bank account number and/or BVN.*An employee’s account cannot be registered with two different organisation.*Make sure to double check the details before submitting it.
12. After lling the employee details. *Make sure your internet connection is strong and stable.*Ensure your browser is up to date.*Please note that you can not make changes after submission. *Click ‘Continue’ to submit
13. After you have submitted, you will see a message that reads – ‘’Verication is being processed. Please check back in 72 hours. ‘’
14. You can view your organisation detail and account detail on the dashboard.*Please check back to monitor the status of your application.*More details will be shared to you soon.Following verication of the information sub-mitted during your registration and having met the selection criteria, your application will be eligible for payment as specied under the scheme applied for.
Survival Fund Application Closing Date
There is no stipulated closing date for this opportunity.
What Survival Fund Video below;