A Government hustler fund loan that lets Kenyan Citizens borrow Money through their cell phones. The Government has given it a start-up capital of Kshs 50 billion.
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 percent a year, the lowest interest ever charged in Kenya.
As a result, citizens can start or boost their hustles without being crushed by predatory lenders, shylocks, and over-the-roof interest rates.
Government funding will provide affordable credit for four products:
- Personal Finance
- Micro Loan
- SMEs Loan
- Start-Ups Loan
What Is Hustler Fund 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 50 billion.
Why Was Hustler Fund Loan Created
- To provide financial empowerment and security to the people at the bottom of the pyramid
- Free low-income citizens from the 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
How is Hustler Fund Loan Different from Others
- Low-interest rate (8%)
- No collateral required
- No CRB Listing
- NO threats