The Hustler Fund is a digital financial inclusion initiative that offers affordable credit to individuals and small businesses in Kenya. With a startup capital of Kshs 50 billion, the fund provides four products: Personal Finance, Micro Loans, SME Loans, and Start Up Loans. These loans have a low interest rate of 8% per year and do not require collateral, making them an accessible option for those who have been historically underserved by traditional financial institutions. If you are a Kenyan citizen and are interested in applying for a loan from the Hustler Fund, here is a step-by-step guide to help you through the process.
How to Register and Apply for Government’s Hustler Fund
- Determine which product is right for you: The Hustler Fund offers four different loan products, each designed to meet the specific needs of different borrowers. To determine which product is right for you, visit the Hustler Fund website and review the descriptions and reviews of each product. You can also contact the fund directly to ask for guidance.
- Meet the eligibility criteria: To qualify for a loan from the Hustler Fund, you must be a Kenyan citizen over the age of 18 and have a valid national ID. You must also have a mobile phone and an active SIM card from one of the Mobile Network Operators in Kenya.
- Register for the Hustler Fund: To apply for a loan, you must first register with the Hustler Fund through the USSD *254# or mobile APP platform of your Mobile Network Operator. During the registration process, you will be required to provide your personal and financial information, including your name, ID number, contact details, and employment status.
- Submit your loan application: Once you have registered, you can submit a loan application through the Hustler Fund platform. You will need to provide information about your loan request, including the amount you wish to borrow and the purpose of the loan. You may also be asked to provide supporting documentation, such as proof of income or business registration.
- Wait for a decision: After you submit your loan application, the Hustler Fund will review your request and make a decision on whether to approve or decline your loan. If your loan is approved, you will receive a notification and instructions on how to access your loan funds.
- Repay your loan: It is important to remember that the Hustler Fund is a loan, not a grant, and you will be required to repay your loan according to the terms agreed upon. Be sure to make your loan payments on time to avoid any negative consequences.
By following these steps, you can apply for a loan from the Hustler Fund and access the financial support you need to start or grow your business or achieve your personal financial goals.