Hustler Fund is a financial inclusion initiative that was designed to support small scale business individuals and groups in Kenya. The Fund was officially launched by the Kenya Kwanza party leader, President William Ruto on November 30, 2022. Know more about Hustler Fund Loan now.
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While launching the fund, President Ruto said that it is divided into four; personal, micro, small, and medium-sized enterprises (MSMEs).
How to apply for Hustler Fund loan via your phone
You can apply for the Hustler Fund Loan using your cell phone by dialing USSD Code *254# or using the mobile app.
The following steps will guide you on how to apply for the loan;
- Dial USSD code *254# or download the Hustler Fund mobile application.
- Select the loan request option to view the limit, interest, and loan tenure.
- Enter the loan amount
- Press OK to continue
- Confirm all the loan details before you continue
- Enter Mobile Money pin
You will now receive SMS notifications on Loan allocation with relevant loan information.
Hustler Fund terms and conditions
Below are the Hustler Fund requirements as launched by President William Samoei Ruto and Cabinet Secretary Simon Chelugui on Wednesday November 30, 2022.
To qualify for Loan one must;
- Be a Kenyan Citizen aged 18 years and above
- Have a valid National Identity Card
- Have a registered mobile number
- Must have a registered mobile money account i.e MPESA, Airtel Money
- The registered mobile number must have been in use for at least 90 days
- State residential details
Why should one pay the Hustler Fund Loan on time?
Speaking during the launch, President William Ruto urged Kenyans to repay their loan debts on time so as to increase their loan limits.
“I urge Kenyans to pay their debts in order to increase their limit,” Ruto said.
Ruto also warned those who may default paying the loan as the interest rate will increase from 8% to 9.5%.
“After more than 30 days of default, the borrower loses all the credit scores accumulated and the Hustler Fund account is frozen,” he added.
How to check Hustler Fund loan balance
Here is a guideline on how to check for hustler loan balance;
- Dial *254# to get into your hustler fund account
- Go to the menu and select loans
- Select Check Loan Status
- Enter your pin
You will receive a notification showing your current loan balance.
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Millions of Kenyans are on registering for the Hustler Fund Loan. Follow us daily and know more interesting stories as they come every time.
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