The Hustler Fund Loan was today officially launched by President Ruto, opening the door to affordable government loans for low-income earners. Let us get to understand what all this means.
Hustler Fund Loan
This is a loan that is issued to any Kenyan with a national ID and sim card registered in the last 90 days. The Hustler Fund loan targets low-income persons and businesses like boda boda, mama mboga, mitumba sellers, etc.
Some of its features include;
- No security is required
- You will not be listed on CRB if you default
- The Hustler fund can be applied via mobile using USSD *254# (Safaricom, Airtel and Telkom)
- The hustler fund has a repayment period of 14 days
- Your credit score affects your loan limit
- It has minimal interest rates if you repay on time
- 5% of the hustler loan issued to you goes to your savings account.
Most users liken the hustler fund to mshwari and fuliza. However, its minimal interest rates sets it apart
Although the hustler fund was officially launched today (11/30/2022), it is currently not available to everyone.
Here is a list of questions and answers about the hustler fund.