hustler fund loan repayment rate Stories
The Commodities Fund recorded the highest loan defaults, writing off Sh12.36 billion in loans extended to sugar companies.
Findings indicate that thousands of borrowers were either below the legal age of 18 or had not yet been born when the funds were disbursed.
The main aim of the Hustler Fund is to help those in the informal sector transition to the formal financial system, a crucial step for long-term econo...
Susan Mang'eni, the PS for the State Department of MSMEs confirmed that these two million borrowers have achieved higher credit scores by repaying the...
The President noted that repaying overdue amounts is key to unlocking enhanced benefits under the newly introduced Bridge Loan programme.
The new Bridge Loan product rewards borrowers who demonstrate good borrowing behaviour with enhanced loan limits and longer repayment terms.
The Loans Board noted that it will offer an 80 per cent penalty waiver for beneficiaries with accrued penalties who pay their loans in one lump sum.
The repayment rate for the loan amount is 77 per cent, meaning that at least 11.4 billion is in default.
Muslim leaders had earlier expressed concerns that the Hustler fund is not Muslim friendly.
The President says the fund has saved Kenyans from the predatory lending witnessed on digital platforms, with some denied access to funding in the est...
