ADVERTISEMENT

How to apply for Hustler Fund loan via mobile app, USSD

Loan amounts will be determined by one’s credit rating and those who repay the loans on time will access to more money.

President William Ruto interacting with entrepreneurs during the launch of Hustler Fund in Nairobi on Wednesday, November 30, 2022

President William Ruto launched his administration’s signature project, Hustler Fund at Green Park in Nairobi, on Wednesday, November 30, 2022.

ADVERTISEMENT

The fund is expected to provide much-needed assistance to millions of Kenyans who were unable to get credit due to being blacklisted by multiple credit rating organisations.

In the first phase, the Hustler Fund will provide loans ranging from a minimum of Sh500 to as high as Sh50,000 at an 8 per cent pro-rated basis or a daily rate of 0.002 per cent. The loan should be repaid within 14 days.

Loan amounts will be determined by one’s credit rating and those who repay the loans on time will access more money.

Kenyans can access the funds using the USSD code *254# and via mobile application platforms from any of the Kenyan mobile network operators.

It is important to note that the Hustler Fund will only be available from December 1, 2022, when the below instructions will be activated.

  1. Applicants will be required to dial the USSD code *254#
  2. Select the loan request option to view the limit, interest, and loan tenure. 
  3. Enter the loan amount and press OK to continue 
  4. Confirm loan details 
  5. Enter Mobile Money pin 
  6. Receive SMS notifications on Loan allocation
  1. Enter mobile app from any mobile network operator
  2. Select the loan request option to view the limit, interest, and loan tenure. 
  3. Enter the loan amount and press OK to continue 
  4. Confirm loan details 
  5. Enter Mobile Money pin 
  6. Receive SMS notifications on Loan allocation

If approved, 95% of the funds will be transferred to your mobile money account.

he remaining 5% will be transferred to your savings account for the Hustlers pension programme.

  1. Must be a Kenyan citizen of 18 years of age and above
  2. Must have a valid national Identification Card (ID)
  3. Must have a registered mobile number from a recognized Mobile Network Operator in Kenya (Airtel, Safaricom or Telkom)
  4. Have a mobile money account (Airtel Money, M-PESA or T-Kash)
  5. Must have used the SIM card in question if it has been used for more than 90 days.
  6. Must live and conduct business in Kenya.
  7. Must provide residence during the onboarding process (where applicable)

Other than the 5% that is used for saving, Hustler Fund does not impose a transaction fee.

Kenyans can repay their loans by following the commands via USSD code *254# or mobile app.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

 Nairobi MCA Absalom Odhiambo arrested

Nairobi MCA Absalom Odhiambo arrested

Ruto to recall ambassadors, high commissioners in diplomatic shake-up

Ruto to recall ambassadors, high commissioners in diplomatic shake-up

The secret life of Juja dam tragedy victim Fridah Warau Kamuyu

The secret life of Juja dam tragedy victim Fridah Warau Kamuyu

Renowned surgeon and Nation columnist Dr. Yusuf Dawood dies at 94

Renowned surgeon and Nation columnist Dr. Yusuf Dawood dies at 94

Former ICT CS Joe Mucheru lands international job

Former ICT CS Joe Mucheru lands international job

Authorities take action after drowning incident in Juja dam

Authorities take action after drowning incident in Juja dam

Raila outlines next steps in fiery speech at Jacaranda rally

Raila outlines next steps in fiery speech at Jacaranda rally

How former SONU president wants Magoha honoured by UoN

How former SONU president wants Magoha honoured by UoN

Raila names 5 leaders in line to succeed him upon retirement

Raila names 5 leaders in line to succeed him upon retirement

ADVERTISEMENT