The Hustler loan limits is of KSh. 500 up to a maximum that will be determined by the borrower’s credit score and capped at KSh.50,000.00.
How can you increase the Hustler Fund loan limit quickly
The loan limit of a borrower has the ability of rising to a higher amount depending on their behaviours in borrowing and repaying.
“The limit shall be reviewed and adjusted based on the borrowing and repayment history of previous Hustler Fund loans taken,” the ministry of Cooperatives and MSMEs says.
Therefore, borrowers are encouraged to continue using Hustler Fund and pay their loans on time.
Assessment of credit history on subsequent loan applications and repayment shall apply to determine subsequent qualifications for the facility.
In case a borrower does not repay the loan within the set 14-day period, a loan recovery and collection process will be initiated.
Before the repayment, one will not be eligible to apply for another loan.
There will be penalties imposed on the defaulters where 15 days after the date of default, the interest rate will be adjusted from 8% per annum to 9.5% per annum.