MSME Survival Fund Registration 2020 For Payroll Support
MSME Survival Fund Registration is currently ongoing to support and protect Micro, Small, and Medium Enterprises (MSMEs) from the potential vulnerabilities brought about by the COVID-19 pandemic.
The MSME Survival Fund was organized by the Federal Ministry of Industry, Trade & Investment, and supported by MSME Clinic, Bank of Industry, SMEDAN, NASME, and ITF. The program is categorized as listed and explained below.
MSME Survival Fund Schemes/ Categories
MSME Payroll Support
This is a survival fund to support 500,000 MSMEs to meet the payroll obligations of between thirty thousand (30,000) Naira to fifty thousand (50,000) Naira per employee over three (3) months.
In this category MSMEs and Priority Sector affected by the pandemic will be supported by providing finance to enable them to increase their manufacturing capacity, the key sectors supported include 333,000 Artisan/Transport and 250,000 Formal Employees.
Guaranteed Offtake scheme is organized to support 100,000 micro and small businesses impacted by the pandemic.
Who Is Eligible For The MSME Survival Fund?
- Small business owners
- Self-employed Nigerians such as artisans, drivers, bricklayers, plumbers, etc. (all sectors).
- Bank Verification Number (BVN)
- Organizations must have at least three staff
- CAC Number
- SMEDAN Number
- Tax ID (optional)
- organization’s bank account details.
How To Apply
- Visit the Survival Fund application portal
- Choose the eligible scheme.
- Provide your personal details as requested and follow the instructions provided at the form top to complete your initial registration.
- A code will be sent to your registered email address and phone number which is required to activate your account.
- Log into your account and register your organization by providing your CAC Number, SMEDAN Number, Tax ID (optional), and your organization’s bank account details.
- A list of requirements to complete the application will be sent to the registered email address.
Payroll Support Timetable
Monday 21st September 2020
Start Time: 10:00 PM
Education (Private Schools)
Friday 25th September 2020
Start Time: 12:00 AM
Monday 28tt September 2020
Start Time: 12:00 AM
General (All Sectors)
The application deadline is 15th October 2020.