I am sure you have heard of the newly approved funds for the support of business owners and entrepreneurs 2020. We will give you an in-depth breakdown of how these funds will be disbursed and how to qualify.
Navigate This Post
- 1 Survival Funds Registration Portal 2020 | Important Facts About The MSME Registration Form Login
- 2 How can you apply for the Survival Fund registration?
- 3 How to apply for N75BN Nigerian Youth Investment Fund| Registration Portal
- 4 When will the portal for registration for the Survival Fund be open?
- 5 How to apply for MSME Survival Fund registration portal
- 6 When will the registration end?
- 7 Requirements for the registration include
Survival Funds Registration Portal 2020 | Important Facts About The MSME Registration Form Login
The registration of beneficiaries into the Micro, Small, and Medium Enterprise Survival Funds (MSME) is open now. The registration portal was open on Monday, 21st September 2020.
The Survival Fund is an initiative by the Federal government of Nigeria to help empower and support businesses that have been swallowed by the effects of the COVID-19 pandemic.
It is the government’s way of saying that they understand what small scale businesses are going through and they are supportive to see them prosper.
How can you apply for the Survival Fund registration?
The President Muhammadu Buhari Led administration has approved the giving out of N75 billion to small businesses in Nigeria for Covid-19 support.
Below is the complete information on how to apply and qualify to receive these funds.
How to apply for N75BN Nigerian Youth Investment Fund| Registration Portal
It is held that an estimated number of 1.7 million Nigerian businesses will benefit from this money following the information we have been able to gather.
Before you dive into the application procedures, make sure that you go through the five tips we will give you below.
When will the portal for registration for the Survival Fund be open?
The portal for application is https://www.survivalfund.ng/
From the information we have been able to gather, the press has indicated that the portal will be open on the 21st of September, 2020 at exactly 10 pm.
At the moment, there is only one category of people that can register on this date and they fall under the Payroll Support. All other categories will have to wait to receive more information.
What is Payroll Support?
This category is meant for business owners that cannot afford to pay their workers(staff) salary for the last three working months.
The salary should be between the range of 30,000 to 50,000 Naira.
Under this category, provision has been made to be able to pay for over 500,000 business owners.
Every state in the country is eligible to participate. The only downside to this is that for your company to qualify and benefit from the funds, you are allowed to have only 10 staff or less.
How to apply for MSME Survival Fund registration portal
- In this timetable, from what we can see, only businesses who fall under the Educational sector can register on Monday, September 21.
- However, on September 25, other business owners who fall under the hospitality category (hotels, bars, cinemas, restaurants etc) will be allowed access to submit their applications on the website from 12 am.
- Lastly, On 28 September, all other business owners will be allowed to submit their applications at the MSME Survival Fund registration portal.
When will the registration end?
The closing date for all registrations is Thursday 15 October 2020. All applications submitted after this date will be considered invalid and the portals will be shut.
Please, if you are a business owner yet to apply, ensure that you take your time and submit correct and verifiable details. Also make sure that you have your application materials in place for the Survival Fund registration.
Requirements for the registration include
- Corporate Affairs Commission certificate that matches the details you submitted on the funds application portal.
- Bank Verification Number
- Date of birth
- Phone number
- Email address
There is no problem if you have not registered your business. The government has also set out a part of the money to help new businesses get registered. A total number of 250,000 new businesses will be registered with CAC for free.
“The MSMEs Survival Fund” has been signed by the government alongside the Guaranteed Offtake Schemes. They both amount to 75 billion Naira
This is just another palliative from the government to help struggling businesses and individuals in Nigeria.
Please before reading further, go through the next section to clear some misconceptions about this survival fund of the FG.
- This money is not given out as a loan, rather it is a grant. It is aimed at supporting around 1.3 million jobs and 35,000 people across all the states of the federation.
- Business registrations are free for those who do not already have a registered business.
- The grant will last for only three months.
- You must be self-employed or running your own small business or start-up to qualify.
- All business CEOs must be Nigerians and they must have a valid means of identification and a Bank Verification Number.
- If you are self-employed in the following fields of work, you are eligible to apply. bus drivers, taxi drivers, ride-share drivers, mechanics, artisans, and more.
Contact Information: Visit www.survivalfund.ng/