Federal Govt Closes MSME Survival Fund Portal

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By Eyo Nse,

MSME survival fund portal known better as Survival FundNG was first opened on Monday, September 21, 2020.

Federal Govt Closes MSME Survival Fund Portal

When Brainnews visited the portal at 3pm on Saturday, October 17, 2020 it was closed for registration on the MSME Payroll Support. When a user click to register it gave this message “Scheme is now closed.”

The registration for the fund was placed in this format: educational institutions: From Sept 21, 2020, businesses in the hospitality industry: From September 25 and Small businesses: From Mon Sept 28, 2020.

On the portal (Survivalfundapplication.com) three different sections were found, and it include:

ALSO SEE:  Frequently Asked Questions (FAQ) About MSME Survival Fund

Federal Govt Closes MSME Survival Fund Portal

1. MSME Payroll Support

The MSME Payroll Support Scheme is a survival fund that will make payroll support available to save jobs and sustain local production.

2. MSME Grant

The Credit Support to MSMEs and Priority Sector will provide affordable finance to key sectors impacted by the pandemic and enable an increase in manufacturing capacity in priority sectors.

3. Guaranteed Offtake

The MSME Guaranteed Offtake Scheme is one of the Federal Government’s economic support measures to assist micro and small businesses affected by the pandemic.

4. Formalisation Support

The registration of 250,000 New Business Names with CAC. The Federal Government will be providing free CAC business name registration for 250,000 businesses.

ALSO SEE:  Federal Govt N75 Billion Registration: How To Apply For MSME Survival Fund

Below is how the payment process will take effect:

1. Register

Register to be part of this Federal Government Survival Fund Program with your business and(or) personal information.

2. Onboard

Once fully registered on the platform, complete the onboarding process by adding Organisation, Bank and Employees details.

3. Get Paid

Once your application has been successfully verified, you are then eligible to get paid under the scheme applied for.

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