Survival Fund Application Portal: How to Apply for FG MSME Survival Fund Program (survivalfundapplication.com)

Welcome to Mitrobe.com, I will be reviewing Federal Government Survival Fund Application Portal. Are you aware of the newly launched Survival Fund  portal for small and medium scale businesses/enterprises? Grab a cup of coffee and lets get down to the brass tacks.

FG MSME Survival Fund Application Program

The aim and ultimate purpose  of the FG MSME CRM & MIS Platform is to assist youth across the country with the stress free digital registration, quick on boarding and monitoring of Micro, Small and Medium Enterprises for the Federal Government Survival Fund Program.

The program includes Payroll Support, Guaranteed Offtake and MSME Grant. The CRM & MIS Platform will also enable the inventory management of the Guaranteed Offtake Scheme. This program is part of the Economic Sustainability Plan, which aims to support and protect these businesses from the potential vulnerabilities brought about by the COVID-19 pandemic.

Nigeria has a large informal sector which contributes about 65 percent of its economic output and a large proportion of the population is clustered around the poverty line thus making them highly vulnerable to falling into poverty due to shocks. The MSME Revolving Guaranteed Off-take Scheme is one of the Federal Government’s economic support measures to assist micro and small businesses affected by the pandemic.

Every intending participants of this survival fund program  will need to Register to be part of this Federal Government Survival Fund Program with their respective business and(or) personal information.

After that, once you’re fully registered on the platform, kindly ensure that you complete the onboarding process by adding Organization, Bank and Employees details.

Further more, it might interest you to know that once your application has been successfully submitted and verified, you are then eligible to get paid under the scheme applied for.

Features of the federal Government Survival Fund Application

– Payroll Support: Support 500,000 vulnerable MSMEs in meeting payroll obligations of between N30,000 to N50,000 per employee over 3 months
– Formalisation Support: provide free CAC Business Name registration for 250,000 new businesses
– General Grant: Support the survival of 100,000 businesses most affected by the COVID-19 pandemic with N50,000 each
– 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 livelihood

MSME SURVIVAL FUND
The MSME Survival Fund 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 1.3million jobs across the country and specifically impact on over 35,000 individuals per state.

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%.

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.

GUARANTEED OFF-TAKE STIMULUS SCHEME

This scheme will protect and sustain the income of vulnerable Micro and Small Enterprises from the economic disruptions of the COVID-19 pandemic through the implementation of various initiatives aimed at boosting the production capacities of the small businesses as well as provision of grants.
The main objective of this particular scheme is to boost production capabilities of small businesses with the view to ensuring that they remain in business

Duration: The duration of implementation will be same as the payroll support Target Beneficiaries: Micro and Small businesses registered in Nigeria.

Registration for Payroll Support Begins on 21st September 2020
visit survivalfundapplication.com for registration details