Sign in
Download Opera News App

Economy&Finance

 

Investing

 

Fund

How to apply for the hustler fund on your phone.

The hustler fund is one of the biggest agenda that the Kenya Kwanza administration promised Kenyans during their campaigns.

During its launch on November 30, hustlers were able to present the challenges they face to make a living.

The Ministry of Cooperatives and MSME Development stated that Kenyans will be able to apply for this fund on their mobile phones using the USSD code *254# on Safaricom, Airtel and Telkom networks.

The minimum loan limit will be Kshs 500 and the maximum limit per individual will depend on his/her credit score which is not more than Ksh 50,000. The repayment period is 14 days. Incase you default to repay on time, penalties will apply.

In order to increase your limit the Ministry says they will consider the history of the borrowing and the repayment of previous hustler fund loans.

It will also attract an interest rate of 9.5% per annum.

These loans will be available to people permanently living in Kenya as from December 1.

Content created and supplied by: Mumbilizzie (via Opera News )

Airtel Kshs MSME Development Safaricom Telkom

COMMENTS

Load app to read more comments