The Hustler’s Fund was launched yesterday at an elaborate event at Green Park.
As a Kenyan small business owner, how do you know you are eligible for the registration process?
Here are the list of requirements.
Must be a Kenyan citizen of 18 years of age and above
● Must have a valid national Identification Card (ID)
● Must have a registered mobile number from a recognized Mobile Network
Operator in Kenya i.e., either Airtel, Safaricom or Telkom i.e., either Airtel, Safaricom or Telkom
● Have a mobile money account i.e., either Airtel Money/M-PESA/T-Kash
● The SIM card in question can/ will only be eligible if it has been in use for more
than 90 days.
● Reside and conduct economic activities in Kenya.
Provide the Location of residence during the onboarding process (where applicable)
Here is the process of registering for the fund.
The customer is required to:
● Sign up for the Hustler Fund platform by dialling *USSD code# or through the
mobile app.
● Accept the Terms and Conditions to join the Fund
● Enter Mobile Money Pin
● Upon fulfillment of steps 1-3, an SMS will be sent to notify them of their successful
registration and the limit assignment.
● In the event of a failed registration, the borrower will be notified via SMS
How do I apply for a loan?
Once registered and loan limits assigned, the customer is required to follow the
application steps to access the loan:
● Dial USSD code *USSD code# or mobile application.
● Select the loan request option to view the limit, interest, and loan tenure.
● Enter the loan amount and press OK to continue
● Confirm loan details as displayed to continue
● Enter Mobile Money pin
● Receive SMS notifications on Loan allocation with relevant loan information
What does loan processing entail?
Once the customer has successfully applied and has received an SMS notification
regarding loan information, back-office loan processing takes place in the following steps:
● Loan Appraisal – The application will be subjected to the predetermined formula
based on existing qualification parameters
● Loan Approval- Approval shall be granted based on meeting eligibility criteria,creditworthiness.
If you fail to meet the above stated requirements, then consider yourself Ineligible for the Hustler funds loan.
