Do you know that about N2.3 trillion stimulus package have been made available for struggling businesses in Nigeria?
The main brain behind this scheme is the Federal government that has affirm the need and importance to help businesses stand firm and not collapse in the midst of global economic challenges.
To this end, the government is providing one of the biggest economic pages that strictly target businesses owners and employees altogether.
What we are trying to say is that the federal Government in conjunction with the federal executive Council has made a provision of N75Bn MSME Survival Fund for Self Employed, Transporters, Artisans in Nigeria.
Paying salaries during economic crisis is really challenging, because of this a lot of business resort in reducing their workforce to stay afloat,of course this has a negative implication and impact on the economy as a whole.
Survival Fund Portal – www.survivalfund.ng Register & Login
the Government N75Bn MSME Survival Fund is a grant that will help to see that Nigeria don’t slip into recession, mass unemployment across private sector of the economy.
From reliable sources we confirm that The grant will be launch in two phases in two phases such as :
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
To stop the economy from further bleeding, launch the economy on a recovery path, save millions of Nigerian from being out of job the government is banking on the N75Bn MSME Survival Fund to keep hope alive.
Survival Fund Portal Available Programmes
(i) MSMEs Survival Fund programmes:
- PAYROLL SUPPORT: this aspect of the grant are meant for just 500,000 thousand MSMEs. If your business is lucky enough you stand a chance of getting financial support of 30-50k for your staff for 3 months.
- FORMALISATION SUPPORT : a Window is opened for over 250,000 unregistered business sites in Nigeria.
- ARTISAN/TRANSPORT SUPPORT – 333000 /30,000 operational grant is available for artisans and transport business operators
- GENERAL GRANT – 100,000 small and medium size business now have hope of bouncing back to life again.
Target Beneficiaries: to access this loan you have to fulfil and meet certain requirements and it target : employees of MSMEs and Self-employed individuals.
Employees of MSMEs:
- Number one criteria is to get your business registered with the Corporate Affairs Commission, CAC.
- Another critical issue is to get a BVN number which is critical in accessing the grant.
- Your business should be sited in Nigeria.
- Have a minimum number of staff
Self-employed Individuals in the following categories.
Are you in the service sector Or your business provides services then you should look into this category
i.e. Bus drivers, Taxi drivers, Ride share drivers,(Uber, BoltTaxnfy etc) and Mechanics.
Artisans, Electricians Plumbers etc.
How to apply – www.survivalfund.ng survival fund portal
Start applying for the N75Bn MSME Survival Fund here is a guide we have taken time to write