Hustler Fund is finally here and Kenyans can now have the credit though the USSD *254#.
The USSD will active and functional from December 1 across the major Telecommunication companies in Kenya – Safaricom, Telkom, or Airtel .
Applicants will be required to submit their ID number and before creating pin number. One will then be required to accept terms and condition after which one will join the hustler funds.
The credit can alternatively be accessed through ‘Hustler Fund app’ that can be downloaded.
For personal finance Kenyans will access a range of KES 500 to a maximum of KES 50,000.
Borrowers will be required to be paid in 14 days at 8% interest.The interest will be calculated pro-rata or on a daily basis.
Additionally, the credit facility will help Kenyans save. Every time one borrows, five per cent of the amount will saved in the National Social Security Fund (NSSF) account of the borrower
The facility will only be available to all Kenyans who are above 18 years and will business that have turnover of Ksh. 100 million and below.
Requirements To Apply Hustler Fund
To apply for Hustler fund you must meet the following requierements;
- Be a Kenyan citizen
- Have 18 years of age and above
- have a valid national Identification Card (ID)
- Have a registered mobile number from a recognized Mobile Network Operator in Kenya e.g either Airtel, Safaricom or Telkom
- Have a mobile money account, i.e., either Airtel Money/M-PESA/T-Kash
- The SIMCARD must have been in use for more than 90 days.
- Be a Kenyan resident.
How tHow to apply Husler Fund
The process of applying for the credit facility is very simple.
Just dial the USSD *254# and follow the prompts.