18/11/2022
HUSTLER FUND IS ROLLING OUT BUT IS NOT FOR FREE.
William Samoei Ruto will be launching one of the hustler fund product called the Personal finance fund on the 30th of November 2022.This is been confirmed by the secretary cabinet for Cooperatives and MSME by Hon. Simon Chelugui at the NSSF Kenya building today.
The William Samoei Ruto government funding will provide affordable credit in four products.
1.personal finance
2.Micro loan.
3.SMEs Loan.
4.Starts Ups Loan.
The personal finance will be ready on the 30th November ,between ksh.500 and ksh 50,000 will be available for leading with an 8% interest daily after the 14th day of borrowing ,this means the fund will be paid within 14 days.
Additionally the fund is going to be incorporated with a unique characteristic.every time one borrows,5% is going to be sent to your saving scheme where the money earns interest .This means every one eyeing to borrow must have a saving account. CS have just said in every 2ksh saved the goverment will add you one shilling.
This is what it means,you will to have look for sacco and get registered where you will be a member okay?either a register sacco by the goverment,or open an account with NSSF Kenya then you will go ahead with borrowing, if you borrow lets say 20 thousands.imediately 5% is deducted and kept in your saving account as it add by making interest, meaning 5% of 20k is 1 thousand.you will receive 19k as your loan.therefore in 1k you have saved, the government is going to add to you ksh 500.
watch the video below for more just click the image.