Hustler Fund Biashara Loan. Have you been looking for funds to start or boost your business? If yes, the government of Kenya has launched a new digital financial platform called Biashara loan within the hustler fund menu, aimed at enabling micro-SMEs to access loans at a low interest rate.
This Biashara loan is part of the Hustler Fund Personal Loan Product. Its providing credit to small businesses and individuals which have no collateral or formal banking. If you are a start up, its good to take this opportunity and continue scaling your business further.
The Biashara loan has two categories, individual and group. The individual micro enterprise loan product launched 2/3/2023 will lend between KES 10,000 and 200,000 at 7% interest calculated pro-rata or daily. This is a relieve to many as compared to other banking or lending companies.
The biashara loan has a flexible repayment terms of 1, 3, 6, or 9 months, with a maximum term of one year.
- Best refurbished laptops under 20k in Kenya 2023
- How to opt out of fuliza step by step (2023)
- How to change NHIF hospital online (guide)
How to register for the biashara loan
To register for the Biashara loan, you need to dial *254# on your mobile phone and select preferred business category (Agriculture, Trade, Manufacturing, Service Providers). Afterwards, you will have to key in business registration number and KRA pin linked to your business.
Eligibility; Hustler Fund Biashara Loan
To be eligible for the Biashara loan, customers must;
- Be a Kenyan citizen of 18 years of age and above
- Have a Kenyan Valid National ID
- Have an active SIM Card from any Mobile Network Operator
- Have opted to Hustler Fund Personal Loan Product
- Have a business number for a business registered on the Business Registration Service (BRS)
- Have a KRA pin linked to the Business on BRS
The Biashara loan offers flexible loan limits and repayment periods depending on the customer’s needs and capacity. Customers can also top up their existing loans if they meet certain criteria.
The Hustler Fund Biashara Loan is expected to boost economic growth and create employment opportunities for millions of Kenyans who run micro-SMEs across various sectors in the country.