BizWatch Nigeria had reported that starting from February 9, 2021, 200,000 owners of Micro Small and Medium Enterprises operating across Nigeria will be able to benefit from MSME survival fund.
It is a fresh business grant from the Federal Government to help Nigerians, especially small business owners.
Two initiatives, the Guaranteed Off-take Stimulus Scheme (GOS) and General MSMEs Grant, which are part of the MSME Survival Fund, plans to sustain the businesses of 200,000 beneficiaries across the country.
Requirement For MSME Survival Fund and Grant
Eligible businesses must have the following requirement;
A. Employees’ company Must be registered in Nigeria under the Corporate Affairs Commission, CAC, and SMEDAN Unique Identity Number (SUIN)
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
How To Apply For MSME Survival Fund
Visit the official registration portal at www.survivalfundapplication.com and click on ‘Sign Up’. Select your Registration Type, which is the MSME Payroll Support.
STEP 1: Register
Register your personal details to start the payroll support application. Instructions at the top of the form will guide you on the required fields that need to be filled to complete the initial registration. Enter your personal information (full name, email address, mobile number). Then, choose a password, enter your date of birth and residential address details.
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If you have special needs, ensure you tick the special needs box. Accept terms and conditions to complete your registration.
STEP 2: Activate Your Account
You will receive an activation code on the mobile number and email address you registered with. You will need this code to activate your account.
STEP 3: Login and register your organization
After your account has been successfully activated, you will need to login and register your Organisation. To complete this stage, you will need your CAC Number, SMEDAN Number, Tax ID (optional) and the organisation’s bank account details.
STEP 4: Upload required documents
You will receive an email address on the list of requirements needed to complete the application and these include the beneficiary employees details (not more than 10 employees).
However, the proof of previous salary payments to the beneficiary and all other supporting documents.
Required Documents
Importantly, all applicants are expected to make ready scanned copies of the following documents, they are expected to be available for upload online from Thursday, 1st October 2020.
Company Registration Details (Reg. No. & TIN)
Annual Turnover for the last 12 months
Employee Account Numbers and BVNs
Proof of last three (3) salaries paid to your employees.
