MSME Survival Fund: How to Apply for MSME Survival Fund 2023

last Updated on August 7, 2023

Welcome to the ultimate guide on how to apply for the MSME Survival Fund in Nigeria. If you’re a small or medium-sized enterprise owner in Nigeria seeking financial support during these challenging times, you’re in the right place.

The MSME Survival Fund is a lifeline designed to empower and uplift businesses like yours. But how do you navigate the application process and ensure your eligibility?

Don’t worry; we’ve got your back! In this comprehensive guide, we’ll walk you through the step-by-step process, eligibility criteria, and all the essential details you need to make your application a success.

If by chance you missed the Federal Government MSME Survival Fund in 2022 Application in Nigeria, or probably you’ve heard of the next round of this Grant but you don’t know exactly how to go about it, then you’ve come to the right place.

This post is dedicated to guiding you through the process of applying for this Survival Fund Programme.

Registration for the MSME survival fund has begun, according to the survival fund website, and applicants who are interested in this grant can now register for it online.

All you need are the basic requirements, a device with an internet connection (you can use one at a cyber cafe), and this guide. I know you are wondering what the basic requirements are, don’t panic we’ve got you, just read on.

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How to Apply for the Federal Government MSME Survival Fund

Here’s how to register for the survival fund programme:

• Go to the official website of the Survival Fund Programme.
• To access the choices for the survival fund application form, click the ‘Start Here’ button.
• By choosing ‘Payroll Support Register,’ ‘MSME Grant Register,’ or ‘Guaranteed Offtake Register,’ you may apply for the category you choose.
• Fill out the form as completely as possible to prevent being disqualified at the verification stage.
• You will get an Activation Code on your mobile device after successful registration, which you must use to activate your profile.
• To begin the onboarding process, go to Your Profile and log in.

What is Federal Government Survival Fund?

In line with its pledge to help companies overcome the problems presented by the COVID-19 epidemic, the Federal Government has started rolling out the MSMEs Survival Fund, with the Payroll Support Track being the first initiative to go live (50 Billion Naira).

The Buhari Administration established the MSMEs Survival Fund to assist mitigate the effects of the COVID-19 epidemic, intending to improve the economy by preserving current jobs and generating new ones.

The programme is a conditional grant designed to assist vulnerable micro and small businesses in completing their payroll commitments and protecting their assets. The programme is expected to save a total of 103 million jobs throughout the nation, affecting roughly 35,000 people in each state.

Employees of Micro, Small and Medium Enterprises and self-employed persons are the intended beneficiaries of the programme. Both schemes have a 45 per cent female business participation rate and a 5% special needs participation rate.

You can be part of this if you apply for this programme at least before the deadline, which hasn’t been officially announced yet. Just check for the requirements below to know if you are eligible or not.

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Requirements for FGN MSME Survival Fund

Check out some of these registration prerequisites before continuing with this beneficiary enrollment and registration;

• For registration, get a properly working email address.
• He or she must also complete, scan, and submit the registration form for the survival fund.
• In addition, the business must be based here in Nigeria (and owned by a Nigerian)
• A maximum of ten (10) employees must be on your payroll.
• In addition, interested parties must have their company registered with the corporate affairs commission (CAC)
• All candidates must have their bank verification number (BVN) available.
• Candidates must also have a bank account in Nigeria.

How much is Federal Government Survival Fund Registration?

The online form for the survival fund is free, but you will have to pay for your cybercafe registration, which of course varies from one place to another.

The typical cost of a cyber café is between 1000 to 1500 Naira.

As a result, the registration might cost you up to 1,500 Naira if you are not tech-savvy or don’t have access to a computer and the internet.

Benefits of MSME Survival Fund Programme

1. Payroll Support

Assists 500,000 MSMEs in completing payroll responsibilities ranging from 30,000 to 50,000 Naira per employee over the course of three (3) months.

2. Formalization Support

Provide 250,000 enterprises with free CAC business name registration.

3. General Grant

With 50,000 Naira apiece, support the survival of 100,000 companies most impacted by the covid-19 epidemic.

Federal Government Survival Fund Registration Deadline

The registration for the survival fund is still open online, and based on what we know, the portal may be closed anytime soon, so don’t wait to register when the deadline is announced.

FGN Survival Fund Application Process Steps

1. Register First

The first step in becoming a member of the Federal Government Survival Fund Program is to register on the survival fund application site with your company and/or personal details.

2. Get Onboard

After enrolling on the site, you must finish the onboarding process by entering information about your company, bank, and employees.

3. Get Compensated

After your application has been confirmed, you will be entitled to receive payment under the plan you applied for.

How to Check for Survival Fund Status

To check for your survival fund status, follow these steps:

1. Log in to the Survival fund portal with your login details (Phone number and password you used during registration).
2. Check that your account has been verified by scrolling down the page where you should see a text saying “Verified“. Which shows that your account has been verified, otherwise you’ll see “Captured“. This means that your verification is in progress and your details have been registered.