The Hustler Fund- Everything you need to know!

Acha tukupeleke na rada kuhusu Hustler Fund.   About 8 million Kenyans wamekua blacklisted juu ya kukosa kulipa loans na different service providers. As a result, imekua noma kupata loans za ku-run businesses au for personal use. After Hustler Fund launch last week, Wakenya wengi wame-apply na wamepata hizi loans. Gava inadai over 17 Million zilichukuliwa within the first one hour.  

What is the Hustler Fund? 

Hustler Fund ni service ya Gava na inapatia wasee loans na pia unaweza save through mobile phone. Aim ya hii Hustler Fund ni ku-make it easy wasee kupata loans for personal, micro, small, au medium-sized enterprises (MSMEs) in Kenya. Hustler Fund ni different from other funds because interest rate yake ni low, alafu sio lazima uweke deposit, business plan and other assets kama security, kupata loan. 

Hustler Fund iko na four types of loans zile unaweza pata. Kuna loans for personal finance, microloans, loans for Small and Medium Enterprises (SMEs) na pia credit for Startups. 

Who is the Hustler Fund for?  

The Hustler Fund iko available kwa kila msee Kenya in case unataka loan for personal or business use. Pia ina-serve small business owners wale wana-face challenges borrowing from other financial institutions.  

How do you apply for the Hustler Fund? 

 Registration na kupata loans za Hustler Fund ni simple. Unaweza get loan yako from any mobile network.  Chukua phone, alafu Piga *254# au download Hustler Fund mobile app. Unahitaji tu National ID yako ku-apply. You must be 18 years old na line yako ikue registered for 90 days, ndio uweze ku-qualify kupata hizi loans.

How does it work?  

Ukimaliza registration ya Hustler Fund, unaweza borrow between Sh 500 to Sh 50,000 depending on your credit score. Hizi loans ziko na interest rate ya 8% per year on reducing balance na zinahesabiwa per day. Kila loan unafaa kulipa in 14-days na interest iko calculated per day on reducing balance. For example, uki borrow Sh 500 na ulipe in 14 days, utalipa Sh 501.53. only.

What do you need to look out for?  

Vitu important unafaa kujua ni; uki borrow loans from Hustler Fund, 95% of the loan inatumwa kwa phone yako directly and then 5% inaenda kwa savings account yako, kama tu (NSSF). Hii 5% savings iko split into two, 30% ya hii 5% inaenda kwa short term savings zako and then 70% kwa long-term (pension) savings.  

Ukikosa kulipa Hustler Fund loan within 14 days, credit rating yako ina-drop but unapewa another 15 days uweze kulipa. After 15 days, kama loan haijalipwa, then interest rate ina increase to 9.5% per year. Finally, Hustler Fund account yako inafungwa after 30 days kama bado hujalipa loan ulichukua.  

Kumbuka, Hustler Fund sio free gift, ni loan. Iko na interest to be paid. Ukishindwa kulipa, credit rating yako itakua affected.

As always, kuchukua loans huwa na risks, so be careful uki-apply for any loans. 

Umepata loan yako already? Ukipata enough loan amount utaitumia aje?

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