Last updated on April 1, 2021 by The Counselor
The Survival fund is a federal Government initial support program created to help Nigerians whose business has or could be affected by the COVID-19 pandemic. The Survival fund support vulnerable MSMEs in meeting payroll obligations of between N30,000 and N50,000 per employee per month to safeguard the jobs of up to 10 employees in a 3 month period.
The Federal Ministry of Industry, Trade and Investment run the N75bn fund providing a general grant of N50,000 for small businesses most affected by the COVID-19 pandemic. The Survival fund provides support over half a million medium and small enterprises MSMEs in meeting payroll objectives.
The medium and small enterprises MSMEs supported in the Survival Fund program includes self-employed, transport workers, artisans, and technicians who are eligible to access up to N50,000 from the fund.
Eligibility Criteria For Survival Fund in Nigeria
- Must Be Resident in Nigeria
- Official Government Identification
- Notarized Guarantor Forms
- Passport photographs
- Training Certificate
- CAC registration
Survival Fund Available Support
Survival Fund Payroll Support: – Assists in paying employees of a business
Survival Fund Guaranteed Offtake: – Assists businesses to kick start or in rebuilding
Survival Fund MSME Grant: – Free grants for Micro, Small and Medium-sized Enterprises.
How to Register for Survival Fund 2021
The following steps will guide you in registering for the survival fund 2021 program;
- Proceed to the Survival fund registration portal survivalfund.gov.ng
- Click on the ‘Start Here’ button, which will take you to the survival fund application form options
- Select the appropriate category you want to apply for. The categories are: Payroll Support Register, MSME Grant Register and Guaranteed Offtake Register
- Fill in your information correctly to avoid disqualification during verification.
After successful registration, you will;
- Receive an Activation Code on your mobile phone, use the code to activate your profile.
- Log in to your profile to proceed with the onboarding process.
How Survival Fund Process Work.
Step 1: Onboard
After registering on the Survival Fund platform, the next is to complete the onboarding process by adding Organisation, Bank and Employees details. This stage is only possible after you have received the verification code on your mobile phone and use it to activate your profile account.
Step 2: Register Your Organisation in Survival Fund
Once you have successfully onboarded, you can register your Organisation. You will need basic information like CAC registration information to complete this Survival Fund stage.
Step 3: Get Paid
Finally, once the information you provided during survival fund registration has been verified and have met the selection criteria, your application will be eligible for payment as specified under the scheme applied for.
Wish you good luck!