The Buhari Administration established the Survival Fund to help mitigate the effects of the COVID-19 epidemic, with the goal of improving the economy by preserving existing employment and creating new ones. The platform aims to assist micro, small, and medium businesses with digital registration, onboarding, and management for the Federal Government Survival Fund Program. Learn more about the Survival Fund application if you are interested in the scheme.
The program is a conditional grant designed to help vulnerable micro and small businesses meet their payroll responsibilities while preserving jobs in the MSMEs sector. The programme is expected to save 103 million jobs across the country, affecting roughly 35,000 people in each state.
Survival Fund application
Registration for the survival fund is currently closed. Those who are interested should wait till the scheme is open again. The registration form can be found on the Survival Fund's official application portal. The online registration process is free.
The Survival Fund registration type
There are three categories one can apply for. They include:
- MSME Payroll Support: The MSME Payroll Support Scheme is a Survival Fund that will provide payroll support to small businesses to save jobs and keep local production going.
- MSME Grant: The credit support for MSMEs and priority sectors will provide affordable financing to key pandemic-affected sectors and allow priority sectors to expand their manufacturing capacity.
- Guaranteed Offtake: This is one of the Federal Government's economic support programmes for micro and small companies affected by the epidemic.
Requirements for Survival Fund registration
Before you fill in the Survival Fund application form, you need to meet the following requirements:
- Must be a Nigerian citizen.
- Must have a verified Bank Verification Number (BVN).
- Must be registered with CAC (Cooperate Affairs Commission).
- Your business must be indigenous.
- You must have at least 10 active staff on your payroll and 3 GOs.
Self-employed Nigerians can also register for the Survival Fund. Candidates must work in one of the following industries:
- Ride and share drivers (Bolt, Uber etc.)
- Taxi Drivers
- Bus drivers
How to register for the MSME Payroll Support in four steps
Below are all the steps you need to follow while filling in the Survival Fund registration form.
Step 1: Personal registration
To begin the payroll support application, enter your personal information. First and last names, email, phone number, password, gender, date of birth, residence address, state of origin, and local government are among the information needed.
After that, accept the Terms and Conditions and create an account. The instructions at the top of the form will guide you through the essential fields to complete the initial registration.
Step 2: Activate your account
You will receive an activation code on the phone number/email address you used to register after completing step 1 above. Because the code will be used to activate your account, make sure you use a genuine email/phone number. The portal will load your profile page after your account has been officially activated.
Step 3: Organisation registration and bank details
You will need to login and register your company when you have successfully activated your account. You will need your CAC Number, SMEDAN Number, and Tax ID to complete this level.
Fill in the blanks with your bank account information and your Bank Verification Number (BVN). Then, complete the remaining sections of the form and double-check your entries for accuracy.
Step 4: Completing the payroll support application
You will get an email with a list of the prerequisites you will need to finish the application. These documents include information about the beneficiary's employees (no more than ten), proof of previous salary payments to the beneficiary, and any other supporting documents such as:
- Company registration details (RC No., TIN)
- Annual Turnover/Turnover for the past 12 months
- Employee account numbers and BVNs
NB: After your application has been verified, you will be entitled to receive payment under the scheme you applied for.
How to apply for the Survival Fund program
Here are the steps to follow when you want to apply for the MSME Survival Fund payroll support.
- Log on to the survival fund registration portal.
- On the website's homepage, click on the "Start Here" on the right side of the page.
- Select your registration type (MSME Payroll Support, MSME Grant, or Guaranteed Offtake Scheme).
- Click on the "Register" button.
- Supply all the necessary information required.
- Submit your application.
You can follow them on their official social media handles for more information and any communication about the fund.
What is the meaning of Survival Fund?
The programme is a conditional grant designed to help vulnerable micro and small businesses meet their payroll responsibilities and protect jobs in the Ministry of Micro, Small and Medium Enterprises (MSME) sector.
How do I apply for a Survival Fund?
Whether or not a company is registered with the CAC, it is entitled to apply for the program. All you have to do is go to visit the Survival Fund portal and fill out an application.
How long is Survival Fund payment?
The scheme was implemented for a three-month trial period in order to provide immediate relief from the pandemic's economic burden.
Is Survival Fund registration still on?
The scheme has finally come to an end. Those who are interested will have to wait until it is open and ready for anyone to apply.
Despite the fact that COVID-19 had a significant impact on most people, the government has assisted many through the Survival Fund scheme. If you are interested in the Survival Fund application programme, you may learn more about it by visiting the online portal or contacting them through their social media accounts.
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