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The FG opened the portal for the application of the MSME Survival Fund NG about a week ago on the 21 September and the process will last another week. It is important to register before the closing date but it is also important to know when your business can apply. All micro, small and medium enterprises, MSMEs will be able to receive funding if they apply correctly. Follow the instructions on how to register and apply for the MSME Survival Fund NG.
Who can apply for the MSME Survival Fund NG
- Educational institutions – Sept 21, 2020.
- Businesses in the hospitality industry: Hotels, Event centres, restaurants and others – September, 25
- All other businesses across all sectors for the Payroll Support Scheme of the MSME Survival Fund can apply on September 28, 2020.
How to apply for the Survival Fund NG
First stage of registration for Survival Find NG
- Log into portal https://survivalfund.gov.ng
- Sign up with your name, email address and phone number
- Selection your registration type (What is registration type: MSME payroll support)
- A form pops up for you to fill in your details
- An activation code will be sent to your email and mobile phone number which will be used for account activation.
Second stage of Survival Fung NG registration
Your account will be approved when you enter the activation code you received. In this stage, you will register your organisation details. Required documents to complete this stage of the Survival Fund Ng registration:
- CAC Number – A 14-digit number which the Corporate Affairs Commission presents to business owners upon registration.
- Tax ID – This is the same as TIN number.
- SMEDAN Number – Business who register with The Small and Medium Enterprises Development Agency would already know what the SMEDAN number is.
- Your business account details
This stage does not confirm that you have fully applied, it tells you how to prepare for the last and final stage. Visit the https://survivalfund.gov.ng portal again on October 1 to complete your registration.
In case you struggle to register your employees, more features of the registration for the Survival Find will open on October 1. Employees can be added to the registration form from that day.
The funding is to support at least 500,000 MSMEs lagging in payroll duties to pay up to N30,000 to N50,000 per employee. Each MSME could be able to sustain not less than 10 employees for the next 3-month period with the funding. More so, the Survival Fund NG is an aid to conquer the lasting effects of COIVD-19 on the economy.
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