Hustler Fund is an innovative loan initiative designed to empower entrepreneurs and everyday Kenyans by offering quick, affordable, and unsecured personal loans. Often backed by government or private sector partnerships, the Hustler Fund aims to provide financial support without the bureaucratic hurdles typically associated with traditional credit institutions. Its focus is on democratizing access to capital, offering loans that range from KSh 500 to KSh 50,000 for personal needs, microcredit, and small business startups all while promoting responsible borrowing through a streamlined digital process.
Key Features of the Hustler Fund
Rapid Loan Processing: With an application process that can be completed via USSD (typically using *254#) or a dedicated mobile app, loans are approved and funds disbursed in minutes.
Affordable Interest Rates: The Hustler Fund is noted for its competitive rates—often with interest fees as low as 8% per annum and a late fee regime that incentivizes timely repayments.
No Collateral or Guarantor Needed: Relying solely on your digital credit profile, the fund assesses your eligibility through alternative data points, making it accessible even if your formal credit history is limited.
Inclusive Financial Approach: Specially designed to reach underserved groups, the Hustler Fund offers flexible loan terms that cater to a wide range of financial needs—from emergency expenses to entrepreneurial ventures.
Transparent Terms and Conditions: Clear details on processing fees, interest accrual, and repayment terms are provided upfront, ensuring you are fully aware of your obligations before accepting the loan.
Digital & Secure: Leveraging modern technology and data analytics, the fund uses secure encryption to protect your personal information during the digital transaction process.
Eligibility Criteria
To be considered eligible for a Hustler Fund loan, you should:
- Be a Kenyan citizen with a verified mobile number and valid national ID.
- Have a steady source of income this can be from formal employment or recognized informal earnings.
- Possess a basic digital footprint (via mobile money usage) that the system can assess for repayment history.
- Agree to follow the loan’s terms, including the repayment schedule and any required data sharing for credit assessment purposes.
How to Register and Apply
Access the Loan Service: You can apply via the dedicated Hustler Fund mobile app or dial the USSD code (*254#) provided by the fund’s platform.
Complete Your Registration: Enter required details such as your name, national ID number, mobile number, and income information.
Submit Your Application: Fill out a short application form where you specify the amount you need and your preferred repayment period.
Instant Credit Assessment: Using machine learning technology, the system quickly reviews your digital financial behavior and approves your loan if you meet the criteria.
Funds Disbursement: Once approved, approximately 95% of the loan amount is credited to your mobile money account almost instantly, while a small percentage might be set aside for savings or pension features as per the fund’s guidelines.
How to Repay
Your Hustler Fund Loan Repayment methods are straightforward:
USSD-Based Repayments: Dial the same USSD code and follow the prompts to repay your loan.
Mobile App Payment Option: Use the built‑in payment gateway provided in the Hustler Fund app.
M‑Pesa Transfers: Alternatively, repay via M‑Pesa using the designated paybill option if provided.
Additional Benefits and User Guidance
Build a Positive Credit Profile: Consistent repayments not only help you avoid late fees but also improve your eligibility for larger loans in the future.
Tailored for Entrepreneurs: The Hustler Fund often extends special terms for micro, SME, and startup loans, making it a vital tool for business growth.
Responsive Customer Support: The fund platform provides comprehensive support channels including live chat, email, and phone helplines to assist you throughout the process.