MSME Survival Fund Registration 2020/2021 - https://www.survivalfund.ng

MSME Survival Fund (www.survivalfund.ng) – The COVID-19 pandemic has created severe Economic consequences for all countries around the world. Nigeria has also been very badly hit. The lockdowns have frozen economic activities, causing massive job losses and supply chain disruptions.

MSME Survival Fund Registration 2020 for Nigerian Entrepreneurs (Fully funded)

In keeping to its promise to support businesses overcome challenges posed by the COVID-19 pandemic, the Federal Government of Nigeria is set to commence nationwide implementation of two MSMEs initiatives namely, the MSME Survival Fund with the Payroll support track as the first scheme to rollout (60 Billion Naira) and the Guaranteed Offtake Scheme (15 Billion Naira) 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.

ABOUT MSME SURVIVAL FUND 2020

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.

MSME Survival Fund Features

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 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%.

MSME Survival Fund Requirements

The benefiting companies to meet the following criteria:

Employees’ company Must be registered in Nigeria under the Corporate Affairs Commission, CAC
Must have BVN by company CEO
Must have a staff strength of no less than 3 persons
Must be owned by a Nigerian

Self-employed Individuals in the following categories

Service providers in the transportation sector, le. Bus drivers, Taxi drivers, Ride share drivers. (Uber, Bolt Taxify etc) and Mechanics
Artisans, Electricians Plumbers etc.