The MSME SURVIVAL FUND application will soon commence, do you have any questions, are you skeptical about the program? We have provided the contact details for all state focal persons for the Nigerian MSMEs Survival Fund. Kindly check below.
MSME SurvivalFund – A Federal Government intervention with the goal of ensuring that small businesses survive the economic disruptions caused by the COVID-19 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%.
1. Employees of MSMEs.
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.
2. Self-employed Individuals in the follownng categories.
- Service providers in the transportation sector. i.e. Bus drivers, Taxi drivers, Ride share drivers,(Uber, BoltTaxnfy etc) and Mechanics.
- Artisans, Electricians Plumbers etc.
How is the MSME Survival Fund helping MSMEs
PAYROLL SUPPORT – Supports 500,000 thousand MSMEs in meeting payroll obligations of between 30 thousand Naira to 50 thousand Naira per employee over the period of three (3) months.
FORMALISATION SUPPORT – Provide free CAC business name registration for 250,000 businesses.
GENERAL GRANT – Support the survival of 100,000 businesses most affected by the covid-19 pandemic with 50,000 Naira each.
The application starts on the 21st of September 2020. Interested Nigerians should go ahead and visit the website for more information at https://survivalfund.ng/