How to apply and check loan balance, eligibility and Facts about hustler fund.
The hustler fund was launched today by President William Ruto.
The hustler fund is a creation of the draft public finance Management Regulations 2022.
It provides access to responsible finance for personal, micro, small and medium sized enterprises by innovating, developing and deploying bottom of the pyramid financial services and products that are affordable, accessible and appropriate for the unserved and underserved people
How it works
Provides a platform where people find best deals on financial products
To help people better understand and manage their finances
Accessibility
Accessible through USSD and Mobile App by any mobile network operator
Products offered
Personal Finance(500- 50,000), Micro loans, SME loans and start up
Interest charge on personal loans
Loan interest capped at 8% per annum
Eligibility
Must be a kenyan of 18 years and above
Must have a valid ID
Must have a registered mobile number and sim card used for more than 90 days
Have mobile money account
Reside and conduct economic activities in Kenya
Provide location of residence during the onboarding process
How to register an account on the platform
Sign up for the hustler fund platform by dialling *247#
Accept terms and conditions
Enter mobile money pin
An SMS will be sent to notify successful registration and limit assignment
How to apply
Dial * USSD# or mobile application
Select loan request option to view limit
Enter the loan amount and press OK
Confirm loan details
Enter Mobile money pin
Receive SMS on loan allocation
How to check loan balance
Via USSD dial *254#
Select Loans
Select loan balance
Enter Mobile Money pin
You will receive an SMS message with your loan balance
Also read I have already received 50,0000 from Riggy G-DP promotes a mtumba guy at Hustler’s fund launch