The government has launched the most publicized hustler fund that is aimed at boosting small and medium sized enterprises with networth of less than ksh 100 million.
The interest rate charged will be set at 8 percent but can increase to 9.5 percent should the borrowers show tendencies of defaulting.
The minimum amount of KSH 50000 can be reviewed upwards or downwards by members of Parliament.
Do teachers qualify for the Loans?
All enterprising kenyans with small businesses whose networth is not more than ksh 100 million are eligible to apply for the Loans.
Now what kind of businesses that teachers can do with the money?
Given teachers are very busy from monday to Friday, eight to five, there are limited number of business that they can beging without involving close relatives for monitoring.
Together with other loans that can be obtained from saccos, teachers have an opportunity to emancipate themselves from financial troubles through hustler funds.
Types of profitable Ventures.
One, Agribusiness. Growing of various horticultural foodstuffs for teachers working in rural Areas can be a lucrative venture.
The money is enough to invest in an effective irrigation kit to water the crops during hot weather.
Besides that, one can start animal keeping in which animals such as pigs and chicken which are great sources of white meat can be reared.
With proper management and working in liason with agricultural extension officers, it's possible for teachers to have a sustainable side hustle using hustler funds.
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