The main objective and purpose of the MSME Funds it to help both Micro, Small and Medium Enterprises for the Federal Government Survival Fund Program. The program includes Payroll Support, Guaranteed Offtake and MSME Grant. This is a loan from the Federal Government which do not require a collateral rather it a Grants that don’t require pay back.
Before applying for a funding opportunity, you need to register an account with https://survivalfund.gov.ng/
This program is part of the economic sustainability plan, which aims to support and protect these businesses from the potential vulnerabilities brought about by the COVID-19 pandemic.
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The federal government announced that the registration for the guarantee offtake stimulus scheme and the general micro, small and medium enterprises grant has commenced.
The minister of trade and investment Mariam katagum, said the programme is to protect and sustain the income of vulnerable Micro and small business enterprises by guaranteeing the offtake of their products.
MSME funds Beneficiaries
- Lagos – 3880
- Kano – 3,280
- Abia – 3,080
- Others State – 2, 640
Qualification Requirement for MSME Funds
1. Applicant must be a Nigerian National.
2. Applicant must be registered under the Corporate Affairs Commission (CAC) with at least a business name certificate
3. Applicant must have a verifiable BVN and Bank Account
4. Applicant must have at least 2 staff
5. Applicant must be ready to produce under NAFDAC and SON specifications.