How to increase Hustler fund Limit

One of the biggest campaigns Kenya Kwanza pledged was the Hustler Fund and finally it is active now. The fund is a digital financial inclusion initiative designed to improve financial access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs) in Kenya.

Borrowers will be able to apply for the Hustler Fund loan through USSD code *254#. According to the Ministry of Cooperatives and MSME DevelopmenT. It will also be available on the mobile apps of Safaricom, Telkom, and Airtel. 

• The loan limits for hustler funds will be a minimum of Ksh, 500 up to a maximum that will be determined by the borrower’s credit score and capped at KS. 50,000
• Kenyan citizens will be able to apply for the Hustler Fund loan through USSD code *254# and on the mobile apps of Safaricom, Telkom and Airtel.
• There will be penalties imposed on the defaulters where 15 days after the date of default, the interest rate will be adjusted from 8% per annum to 9.5% per annum.

One of the biggest campaigns Kenya Kwanza pledged was the Hustler Fund and finally it is active now. The fund is a digital financial inclusion initiative designed to improve financial access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs) in Kenya.

Borrowers will be able to apply for the Hustler Fund loan through USSD code *254#. According to the Ministry of Cooperatives and MSME DevelopmenT. It will also be available on the mobile apps of Safaricom, Telkom, and Airtel. 

The loan limits for this product will be a minimum of KSh. 500 up to a maximum that will be determined by the borrower’s credit score and capped at KSh.50,000.00.

• The loan limits for hustler funds will be a minimum of Ksh, 500 up to a maximum that will be determined by the borrower’s credit score and capped at KS. 50,000
• Kenyan citizens will be able to apply for the Hustler Fund loan through USSD code *254# and on the mobile apps of Safaricom, Telkom and Airtel.
• There will be penalties imposed on the defaulters where 15 days after the date of default, the interest rate will be adjusted from 8% per annum to 9.5% per annum.

How can you increase the Hustler Fund loan limit? 

The loan limit of a borrower has the ability of rising to a higher amount depending on their behaviors in borrowing and repaying. In case a borrower does not repay the loan within the set 14-day period, a loan recovery and collection process will be initiated. 

“The limit shall be reviewed and adjusted based on the borrowing and repayment history of previous Hustler Fund loans taken,” the ministry of Cooperatives and MSMEs says. 

Therefore, borrowers are encouraged to continue using Hustler Fund and pay their loans on time. 

Assessment of credit history on subsequent loan applications and repayment shall apply to determine subsequent qualifications for the facility.