The True Fact about The Survival Fund Grant

 

Many of us missed the CBN Covid-19 loan due to one reason or the other-is either we are ill-informed or do not believe in it. Many took it for granted until some people began to benefit from it. Another opportunity is here again, this time is not a loan but a grant. his grant was launched by the federal ministry of trade and investment last week. The grant is called is called survival fund.

 

The survival fund is a kind of stimulus package designed by the FG for micro, medium and small case business to mitigate the impact on the COVID-19 pandemic. Many businesses has been adversely affected-business has gone bankrupt or has shut down.To mitigate the adverse effect on this, the federal government under the ministry of trade and investment has launched a grant scheme called the survival fund. All MSME are qualified to apply but have to meet certain requirements.

Records has shown that about 70 percent of our businesses despite been in business for many years are not growing but have remain static because they have no insight on registering their businesses. Many registered businesses have gone international, multinational or conglomerate because of their commitment-they are able to register their business and sought for loans to grow their businesses or take it to the next level. The advantage is that with CAC number you can access loan from Bank of Industry, CBN and obviously on the trend now the survival fund grant.

 

It is pertinent to know that Nigerians need to access these funds.I embarked on survey in a mini Market I discovered that many businesses don’t know about CAC.Therefore, this has retarded their growth over the years.

The way forward is for Nigerians to key into this wonderful initiative and get the requisite documents and apply for it.