How To Apply For Survival Fund NG Grant By The Federal Government of Nigeria & CBN (www.survivalfund.ng Complete Guide)
The application for Survival Fund, a grant scheme by the Federal Government of Nigeria has just began.
Here is a complete guide on how you can successfully apply and be a part of those to receive the monetary aid from the government.
Before we go on, let me briefly explain what the Covid-19 Survival Fund is all about and who is eligible to receive the grant.
The Covid-19 Survival Fund is a scheme created and monitored by the Federal Ministry of Industry, Trade and Investment, the Central Bank of Nigeria and some Not-for-profit organisations in the country to assist several businesses affected by the Coronavirus pandemic.
The application began on the 21st of September 2020. That is today! It will continue until 15th of October 2020.
Under the scheme, eligible individuals and businesses will receive grants ranging from N30,000 to N50,000.
Before applying for the grant, it is important you understand that the business grant is in three different categories. This will help you figure out the right category for you to apply.
Below, you will the three categories listed and well explained.
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The Survival Fund Categories
- Business Owners/Employers Category
This category is for small business owners and employers of labour who are it difficult to pay salaries.
Provided that the salary of your fall within the range of N30,000 to N50,000, you can apply and have the government take over the payment of these workers in your business for 3 months.
However, you cannot register more than 10 workers per business under this category.
The number of businesses that can register for this is limited so you need to submit your application as soon as you can.
- Artisans And Transport Workers Category
Under this category, artisans and transport workers whose application is successful, will receive N30,000 grant from the Survival Fund to support their business.
If you are a taxi driver, Okada rider etc, this is the right category to apply for. And you need to do that very fast as the number of slots available for this is not much.
- Business Formalisation Category
The Business Formalisation Category is for persons who are interested in registering their business with the Cor porate Affairs Commission but do not have the money to do that.
Through the Survival Fund scheme, you will be allowed to register or incorporate your business with the agency free of charge. Yes, the government will take care of the cost for you.
- The General Category
This category is for individuals whose businesses do not qualify for the first 3 categories and grant.
Under the general category, successful applicants will be given N50,000 each to help boost their businesses.
This is the best category for anyone to apply as the requirements are not much. However, you will need to submit your application as soon as possible to increase your chances of being among the first set of people to be considered for it.
The Requirements For Applying For The Covid-19 Survival Fund
The following are the requirements for applying for the Survival Fund scheme by the government:
1. Applicant must be a Nigerian by nationality and must be living within the country.
2. Applicant must have an existing business that has been affected by the Coronavirus pandemic.
3. It is best if the business have already been registered with the government although applicants intending to register the business under the Formalisation category are also welcome.
4. Relevant means of identification, a working email address, bank account etc.
Steps To Successfully Apply For The Business Grant
Are you ready to apply for the Federal Government Survival Fund?
Note that the application is strictly online and free of charge. So disregard anyone asking you to pay money to help you secure the grant.
Here’s how to apply for it online:
1. Visit https://survivalfund.ng/ using Chrome or Mozilla Firefox browser on your phone or computer.
2. Choose the appropriate category for your business.
3. Fill the forms online. Do not rush this part to avoid making mistakes.
4. Cross-check your details for errors. Once you hit the submit button, you can’t go back to change anything again.
5. Submit your application.
6. Always check your email and SMS for any message from the agency.
Final Words
This page explains everything you need to know about the Federal Government Covid-19 Survival Fund scheme and the steps to successfully apply for it.
Have you been searching online for how to apply for the CBN Covid-19 Business Survival Fund Grant?
This post is all you need. I hope you find it useful.
You can check out similar topics we have written on business grants and funding opportunities available for Nigerians.