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It's time for the Hustler fund! Some early Christmas gifts have also arrived, for some hustlers who made a killing at the launch today. Here's what went down on some of the biggest reaps...
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A Bodaboda guy gets Ksh200k; 100k each from MP Kimani Ichungwa and CS Kipchumba Murkomen to get himself a brand new boda.
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A smokie guy also got Ksh100k from Safaricom CEO to amp up his smokie business.
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HUSTLER FUND FOOD FOR THOUGHT:
If all 50bn went to the 14-day loan at 8% p.a, the Fund would need to achieve a 99.7% repayment rate on each 14-day cycle to stay afloat.
If it only achieves 75% repayment rate, 90% of its money would be lost within 4 months.
Let’s dive in 🧵
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If all 50bn went to the 14-day loan at 8% p.a, the Fund would need to achieve a 99.7% repayment rate on each 14-day cycle to stay afloat.
If it only achieves 75% repayment rate, 90% of its money would be lost within 4 months.
Let’s dive in 🧵
1/
We’ve heard that the Hustler Fund plans a direct to consumer product that will be offered at 8% per annum at 14 days.
That means a 0.31% effective interest rate on each 14 day loan - the 14 day’s share of the 8% yearly interest rate.
#Money254
#HustlerFund
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That means a 0.31% effective interest rate on each 14 day loan - the 14 day’s share of the 8% yearly interest rate.
#Money254
#HustlerFund
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On this assumption, the fund will gain only 0.31% for each 14 day-loan repaid. The fund will loose all the money that is not repaid to it, or defaults.
If people default on more than 0.31% of the loans, the fund will loose money on each loan cycle.
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#HustlerFund
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If people default on more than 0.31% of the loans, the fund will loose money on each loan cycle.
#Money254
#HustlerFund
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Happening Now: Hustler Fund Launch at the Green Park Terminus in Nairobi. The fund, a core campaign promise of the Kenya Kwanza administration has a seed capital of Ksh50 billion
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#HustlerFundLaunch
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#HustlerFundLaunch
The hustler fund is structured into four loan products.
1. Personal Finance
2. Micro Loans
3. SME Loans
4. Startup Loans
#Money254
#HustlerFundLaunch
money254.co.ke/post/what-we-k…
1. Personal Finance
2. Micro Loans
3. SME Loans
4. Startup Loans
#Money254
#HustlerFundLaunch
money254.co.ke/post/what-we-k…
The Personal Finance Hustler Fund product - which is what is being launched today - will have a minimum loan limit of Ksh500 and a maximum of Ksh50k.
The actual amount you qualify for will depend on your credit history.
money254.co.ke/post/no-collat…
#Money254
The actual amount you qualify for will depend on your credit history.
money254.co.ke/post/no-collat…
#Money254
