Covid-19 was heavy on many strong nations of the world, leave alone the developing ones. A heavy toll is set on all and people are suffering day in and day out towards meeting their ends. Every country is working a way out through this crisis, some are giving compensation and others are working towards the creation of more jobs. The Buhari government is working to create jobs and help businesses for those who lost a lot of their resources to manage the COVID pandemic. Read more about the Survival fund application here in this segment.
The fund will help micro and small businesses meet their payroll responsibilities. It will further help strengthen the jobs in the MSME sector. It will not only create jobs but will also save 103 million jobs. The impact of this program can be felt by almost 35000 people in each of the states.
Who is Eligible for survival fund application?
There are a few eligibility criteria that need to be met if people want to fill out the survival fund application.
- You must own an indigenous business where you are supporting an indigenous group of workers.
- At least 10 active staff must be on your payroll with 3 GOs.
- Self-employed Nigerians can also register for the survival fund.
What are Application Requirements?
Application requirement for the survival fund includes;
- The individuals need to be Nigerian citizens when applying for jobs.
- They need to possess a verified bank account with a BVN (Bank verification number).
- Registration with CAC (Cooperate Affairs Commission) is essential.
How to Apply for Survival Fund Application?
To apply for the Survival Fund application, there are a few steps that one must take through.
- Press the Register button and fill in the online requirements.
- Enter your personal information like the last name, email address, phone number, password, gender, birth date, residential address, state of origin and other such information must be entered.
- Once you enter the personal information, you must next agree to the terms and conditions.
- Activate your account by adding the activation code that comes to your phone number and email address.
- Next, you will need to register your organization and then also add the bank details. Include your CAC number and SMEDAN number and also incorporate your Tax ID details to complete the application form.
- Include your bank account details and the bank verification number (BVN). Submit the preliminary information and then you will receive a mail stating the prerequisites for finishing the application.
Add the beneficiary’s employees, salary payment proofs with the beneficiary, and other essential documents like the RC TIN, a year’s annual turnover and employee account numbers plus BVNs.
A conditional grant will be given to all those who apply. The grants will go to the vulnerable micro, small and medium enterprise sectors as a whole. The grant will be given to the companies for only three months and is supposed to aim for immediate relief for customers who bear the economic burden.
FAQs (Frequently Asked Questions)
When should I apply for survivors benefits?
To apply for survival benefits, you can start your application now as the portal is currently open.
How long does Application Process Takes?
Usually, the application process will not take long and if one has kept all the documents ready, it can be done easily.
How to Check Survival Fund Application Status?
To check the survival fund application status, you can follow the below points.
- Move to the link for checking your survival fund benefit application status.
- Add your login username and password.
- When you see your account, scroll down to it and either check for the word verified or captured to understand the application status.
If the word verified appears then it means your account is already verified.
When the word captured appears, you can know that your information is already incorporated and yet, it is not verified.
Here’s a bit you will need to understand about the application before moving ahead. Whenever you are done with the application, you will get the amount necessary to maintain your staffing for 3-months span. Read the essential details here.