How to Apply for the Federal Government N75Bn MSME Survival Fund for Self Employed, Transporters, Artisans etc.The Federal Government of Nigeria is set to commence nationwide implementation of two MSMEs initiatives namely, the MSME Survival Fund with the Payroll support track as the first scheme to rollout (60 Billion Naira) and the Guaranteed Offtake Scheme (15 Billion Naira) to help cushion the impact of the COVID-19 pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities.MSME SURVIVAL FUNDThe MSME Survival Fund is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard Jobs in the MSMEs sector. The scheme is estimated to save not less than 1.3million jobs across the country and specifically impact on over 35,000 individuals per state.DurationThe scheme will be implemented over an initial period of three months in order to provide immediate relief from the economic impact of the pandemic.Target BeneficiariesThe scheme targets two categories of beneficiaries namely; employees of MSMEs and Self-employed individuals. Both schemes have made provision for a 45% female business participation and special needs participation of 5%.RequirementsA. Employees’ company Must be registered in Nigeria under the Corporate Affairs Commission, CACB. Must have BVN by company CEOC. Must have a staff strength of no less than 3 personsD. Must be owned by a NigerianSelf-employed Individuals in the following categoriesA. Service providers in the transportation sector, i.e. Bus drivers, Taxi drivers, Ride share drivers. (Uber, Bolt Taxify etc) and MechanicsB. Artisans, Electricians Plumbers etc.Features– Payroll Support: Support 500,000 vulnerable MSMEs in meeting payroll obligations of between N30,000 to N50,000 per employee over 3 months– Formalisation Support: provide free CAC Business Name registration for 250,000 new businesses– General Grant: Support the survival of 100,000 businesses most affected by the COVID-19 pandemic with N50,000 each– Artisan/Transport Support: provide 333,000 artisans and transport business operators with a N30,000 operations grant to reduce the effects of income loss– Guaranteed Offtake Scheme: Bulk purchase of products from 100,000 MSMEs to protect jobs and livelihoodGUARANTEED OFF-TAKE STIMULUS SCHEMEThis scheme will protect and sustain the income of vulnerable Micro and Small Enterprises from the economic disruptions of the COVID-19 pandemic through the implementation of various initiatives aimed at boosting the production capacities of the small businesses as well as provision of grants.The main objective of this particular scheme is to boost production capabilities of small businesses with the view to ensuring that they remain in businessDurationThe duration of implementation will be same as the Payroll Support TargetBeneficiaries: Micro and Small businesses registered in Nigeria.Registration for Payroll Support Begins on 21st September 2020visit www.survivalfund.ng for registration details.Visit www.YACMF.WordPress.com to follow our other social media accounts and stay accurately updated!Thanks for reading and kindly remember to SHARE with your contacts.