gDIH Funding Directory
Hustler Fund
Majority of Kenyan citizens work in the informal sector encompassing Micro, Small and Medium Enterprises (MSMEs) with limited access to credit leading to relatively low adoption of innovative technologies and management practices that account for their diverse needs.
The Government established the Financial Inclusion Fund popularly referred to as Hustler Fund to help cushion and mitigate financial shocks for this informal sector which accounts for more than 80% of the workforce and contributes over 33% of the Gross Domestic Product (GDP).
The core objective of The Hustler Fund is to offer holistic financial solutions targeting people at the bottom of the pyramid. The main pillars within the financial inclusion fund are:
- Affordable credit
- Competitive savings & Pensions products
- Comprehensive insurance solutions
- Access to affordable housing
- Market linkages
- Financial Literacy
Products
Personal Loan Product
Between Kes 500 to Kes 50,000
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
- Reside and conduct economic activity in Kenya
- Must Provide Sub County of residence during the on boarding process
Group Micro Enterprise Loan Product
Between Kes 20,000 to Kes 1,000,000
Requirements
- All group members should be Kenyan citizens of 18 years above with a valid National Identification Card (ID).Each member should have an active sim card for the past 90 days on any Mobile Network Operator
- Engage in an economic activity in the Priority Sectors (as listed under core objectives)
- The chama verified by Government Institution ie MSEA, Social Services and BRS
- All group members should not have defaulted on the Personal loan
- A group to comprise of at least 5 members.
Individual Micro Enterprise Loan
Between Kes 10,000 to Kes 200,000
Requirements
- Be a Kenyan citizen of 18 years of age and above with a valid Kenyan National Identification Card (ID)
- Have an active sim card for at least 90 days with any MN
- Operate a formally registered business under Business Registration Service
- Possess a KRA Pin for the business.
- Must not have defaulted on Personal Loan Product & Group/Chama Product.