The Financial Inclusion Fund
Hustler Fund: What It Is
A Government fund that lets Kenyan Citizens borrow Money through their cell phones.
As a result, citizens will be able to start or boost their hustles without being crushed by predatory lenders, shylocks and over-the-roof interest rates.
Government funding will provide affordable credit in four products:
Once registered and loan limits assigned, the customer is required to follow the application steps to access the loan:
A Government fund that lets Kenyan Citizens borrow Money through their cell phones.
The Government has given it a start up capital of Kshs 50Billion.
The Hustlers Fund is revolutionary as its objective is to make affordable credit to sections of the population that have been left behind for far too long.
The Hustlers Fund will lend to businesses at 8 per cent a year, the lowest interest ever charged in Kenya.
As a result, citizens will be able to start or boost their hustles without being crushed by predatory lenders, shylocks and over-the-roof interest rates.
Government funding will provide affordable credit in four products:
- Personal Finance
- Micro Loan
- SMEs Loan
- Start Ups Loan
Why Was it Created
To provide financial empowerment and security to the people at the bottom of the pyramid
Free low-income citizens from bondage of loan sharks
How Much can one borrow
A minimum of Kshs. 500/=.
Free low-income citizens from bondage of loan sharks
How Much can one borrow
A minimum of Kshs. 500/=.
Out of every Kshs 100 borrowed:
- Kshs 95 will go into the borrowers loan account
- Kshs 3.95 will go to his/her pension account
- Kshs 1.05 will go to his/her savings account
- Low Intereset rate (8%)
- No collateral required
- No CRB Listing
- NO threats
Once registered and loan limits assigned, the customer is required to follow the application steps to access the loan:
- Dial USSD code *USSD code# or mobile application.
- Select the loan request option to view the limit, interest, and loan tenure.
- Enter the loan amount and press OK to continue
- Confirm loan details as displayed to continue
- Enter Mobile Money pin
- Receive SMS notifications on Loan allocation with relevant loan information.
