How to Apply for Hustlers Fund in Kenya ( A step by step guide)

The Hustlers Fund in Kenya is a financing program that helps people and businesses get money. It’s made to give loans to individuals, groups, small, and medium enterprises in Kenya. This is a big part of President William Ruto’s plan for Kenya.

You can use the Hustlers Fund if you’re 18 years old and above, and you don’t need to worry about your credit history. They can lend you between Ksh500 and Ksh50,000 if you’re an individual, and Ksh10,000 to Ksh250,000 if you’re a group or a business.

The hustler fund loan interest rate is 8% per year, and the repayment period is 14 days. The hustler fund application requirements are a national ID number, an active Safaricom Mpesa number, and KRA Pin (for hustler business loan). Airtel Money and Telkom numbers can also be used to apply..

There three categories of loans under the Hustlers Fund Financial Inclusion Platform: Hustler Fund, Women Enterprise Fund, and Hustler Groups.

How to Register For the Hustlers Fund

For Individuals:

• • Dial *254# on your phone
  • Choose the “Hustler Fund” option

• • Choose “Register”
  • Accept terms and conditions

• • Enter your MPesa pin
  • If you qualify, you will receive a message indicating you have successfully registered to the Hustler Fund

• • Make a secret PIN for your Hustlers Fund account

For Businesses:

• • Dial *254# on your phone.
  • Pick option 1 “Hustler Fund” choice

• • Choose option 2  “Biashara Loan”
  • Choose option 1 “Register”
  • Select the Business Category

• • Enter the Business Registration Number
  • Select 1 confirm your registration, KRA Pin will be linked to profile

• • Accept Terms and Conditions
  • Enter MPESA pin
  • Registration complete, wait for message to confirm your registration and loan limit

For Groups:

To register for Hustlers fund like a group (Women Enterprise Fund or Hustler Groups), it needs a minimum of 10 members so it is recommended to form a group in advance and have the details of all the members.

• • Dial *254# on your phone
  • Pick option 2 or 3 ” Women Enterprise Fund or Hustler Fund”

• • For Women Enterprise Fund you will select your role in the group as either Chairperson, Treasurer or Secretary.

• • Follow all the prompts to register
  • You will receive a confirmation message after a successful registration

How to Apply For Hustlers Fund in Kenya

For Individuals:

• • Dial *254# on your phone
  • Pick option 1 “Hustler Fund” choice

• • Choose option 1 “Personal Loan”
  • Choose option 2 “Request Loan”
  • You will get your loan limit, Enter amount you want to borrow
  • Confirm your loan request

For Businesses:

• • Dial *254# on your phone.
  • Pick option 1 “Hustler Fund” choice
  • Choose option 2  “Biashara Loan”
  • Choose option 1 “Register”
  • Select the Business Category
  • Enter the Business Registration Number

• • Select 1 confirm your registration, KRA Pin will be linked to profile
  • Accept Terms and Conditions
  • Enter MPESA pin

• • Registration complete, wait for message to confirm your registration and loan limit

How to Register for Hustlers Fund

The Hustler Fund team will look at your request and tell you if you can get the money in a few minutes. If they say yes, you’ll get the money in your mobile money account right away.

How to Pay Back the Money from the Hustlers Fund

To pay back the money you borrowed from the Hustlers Fund, do this:

• • Dial *254# on your phone
  • Pick the “Hustlers Fund” choice
  • Choose “Loan Repayment”
  • Enter how much you want to pay
  • Put in your mobile money PIN
  • Confirm your loan repayment

You can give back all the money at once or a bit at a time. If you’re on time with your payments, you can get more money next time.

Tips for Using the Hustlers Fund

Here are some things to remember when using the Hustlers Fund:

• • Make sure you have registered for Hustlers Fund before requesting for a loan
  • Be truthful when asking for money
  • Only borrow what you really need
  • Have a plan for how to repay the money back
  • Pay back on time to build a good credit

Good Things about the Hustlers Fund

The Hustlers Fund is a good way to get affordable credit for individuals and businesses. It’s simple to use, and fast. It also gives people from 14 days to repay the loan.

Some of the shortcomings of Hustler Fund include the low loan limits (usually less than Ksh. 3000 for most Individuals) and low approval rates for business loans.

Closing Remarks

The Hustlers Fund is a helpful way for Kenyans to get cheap money. It’s easy to join, and it has lots of good things for people and businesses. If you need money for yourself or your business, think about asking the Hustlers Fund.

The above procedure is basically how to apply for Hustlers Fund in Kenya. You just dial *254# and follow all the prompts on a Safaricom Mpesa number.