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Friday, March 3, 2023 – President William Ruto has launched the Biashara Loan – a financial inclusion program from the Hustler’s Fund.
Ruto launched the new product during the celebrations of World Women’s Day at the Kenyatta International Convention Centre in Nairobi.
The loan, according to the Head of State, will target Micro Small, and Medium Enterprises (MSMEs) with needs of capital ranging from Ksh10,000 and Ksh200,000.
“We are now launching the Individual Micro Enterprise Loan Product,” Ruto stated.
Interested businessmen and women will be required to register their enterprises under the Business Registration Service (BRS) and provide key details including the name of the business, and the entrepreneur’s identity.
Upon registration, the government will determine the money required by each applicant based on parameters set in an algorithm developed for the purpose.
Further, the President announced that the loans will come in various plans based on the duration of time needed by an entrepreneur.
“There will be loan products of three months, six months and nine months – depending on the nature of your business,” Ruto affirmed.
How to Apply
The loan will be accessible by dialing a USSD, *254# used to access the regular Hustler’s Fund loans.
- Dial *254#
- Select Option 1 Hustlers fund
- Select Option 2 under Biashara Loan
- Select Option 1 to Register for first time application
- Select the Category of your business; Agriculture, Trade, Manufacturing, Service
In addition, the President also announced the relaunch of the Women Enterprise Funds – which is an upgrade of the existing Women’s Funds.
How to Apply
To benefit from the revamped Women Enterprise Fund, you must be a member of a registered women’s group.
The government has made changes to the USSD code used in accessing the Hustlers Fund to include the new products.
- Dial *254# on your phone’s dial code.
- Select Option 2 labelled “Women Fund”.
The Kenyan DAILY POST
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