The Hustler Fund is one of Kenya’s most impactful financial inclusion programs launched by President William Ruto’s government. It was created to empower millions of Kenyans who lack access to formal credit—especially small traders, boda boda operators, and low-income earners—by providing affordable loans directly via mobile phones. If you’re wondering how to apply for the Hustler Fund in Kenya, this guide covers everything: eligibility requirements, loan limits, registration process, repayment terms, and tips for increasing your borrowing limit.
What Is the Hustler Fund?
The Hustler Loan, officially known as the Financial Inclusion Fund, is a government-backed initiative aimed at providing low-interest loans to Kenyan citizens. It targets individuals, groups, and small businesses that struggle to access traditional credit facilities.
The fund is accessible through mobile networks such as Safaricom (M-Pesa), Airtel Money, and Telkom’s T-Kash, allowing borrowers to apply directly via USSD code or mobile app without visiting a bank or filling out paperwork.
Categories of Hustler Fund Loans
There are four main categories under the Hustler Fund program:
- Personal Loans – For individuals looking to borrow small amounts for personal use or small-scale businesses.
- Micro-Business Loans – Targeting small enterprises, shop owners, and hustlers in informal sectors.
- Sacco and Group Loans – For registered groups, cooperatives, and chamas.
- SME Loans – Larger financing for small and medium enterprises looking to expand operations.
Eligibility Requirements
Before you apply for the Hustler Fund, ensure that you meet the following conditions:
- You must be a Kenyan citizen aged 18 years and above.
- You must have a valid national ID number.
- You must be registered with a mobile money service such as M-Pesa, Airtel Money, or T-Kash.
- Your SIM card must be active for at least 90 days.
- You must not have defaulted on previous Hustler Fund loans.
For group or SME applications, additional requirements may include a valid business registration certificate and KRA PIN.
How to Apply for the Hustler Fund in Kenya
The process of applying for the Hustler Fund is simple, quick, and entirely mobile-based. Here’s a step-by-step guide:
Step 1: Dial the Official USSD Code
Dial *254# on your mobile phone (works on Safaricom, Airtel, and Telkom).
Step 2: Select “Hustler Fund”
From the menu, choose the Hustler Fund option.
Step 3: Choose Loan Type
Select the type of loan you wish to apply for—Personal, Group, or Business loan.
Step 4: Accept the Terms and Conditions
Read and accept the terms provided by the service provider.
Step 5: View Your Loan Limit
Your loan limit will appear on the screen. The minimum amount is KSh 500, while first-time borrowers may get up to KSh 3,000, depending on their credit score and repayment history.
Step 6: Enter Loan Amount
Choose how much you want to borrow, within your limit.
Step 7: Confirm and Receive Money
Once you confirm, the amount will be instantly disbursed to your mobile wallet (M-Pesa, Airtel Money, or T-Kash).
Hustler Fund Interest Rate and Repayment Terms
- Interest Rate: 8% per year, prorated daily (approximately 0.002% per day).
- Repayment Period: 14 days for personal loans.
- Penalty for Late Payment: A 9-day grace period is provided. After that, the loan attracts a 1.5% penalty.
If you repay your loan on time, your credit limit automatically increases, allowing you to borrow larger amounts in the future.
Example of Loan Repayment
Let’s say you borrow KSh 1,000:
- 95% (KSh 950) will be sent to your mobile wallet.
- 5% (KSh 50) goes to your savings account (to encourage saving).
You will repay KSh 1,000 + interest within 14 days.
How to Repay Your Hustler Fund Loan
You can repay your loan using the same USSD code or mobile money app.
To Repay:
- Dial *254#
- Select Hustler Fund
- Choose Repay Loan
- Enter the amount you wish to repay
- Confirm with your mobile money PIN
You can also repay partially or in full before the due date.
How to Increase Your Hustler Fund Limit
The Hustler Fund reward system encourages responsible borrowing. To increase your limit:
- Always repay on time
- Borrow consistently (active usage builds trust)
- Maintain a good M-Pesa or Airtel Money transaction history
- Keep your SIM card active and registered under your name
Frequent and timely repayment signals that you are creditworthy, unlocking higher limits over time.
Hustler Fund for Groups and Saccos
For registered groups and chamas, the Hustler Fund offers larger loan limits—up to KSh 250,000 or more—depending on your repayment record and group size.
Requirements:
- Registered group name and certificate
- Active mobile wallet for the group
- Valid KRA PIN
- Minimum of five active members
Groups can apply through the Hustler Fund Portal or the mobile USSD code.
Common Hustler Fund FAQs
1. Can I apply for the Hustler Fund without an ID?
No. A valid Kenyan ID is required to verify your identity.
2. How long does it take to get the money?
Disbursement is instant upon successful approval.
3. What happens if I default?
Your limit is reduced, and your name may be flagged, preventing you from borrowing again.
4. Can I apply to more than one SIM card?
No. Each ID can only be linked to one Hustler Fund account.
5. Is there an official app?
Yes. The Hustler Fund App is available on the Google Play Store for enhanced access and tracking.
Why Hustler Fund Matters to Kenyans
The Hustler Fund is more than just a credit facility—it’s a financial empowerment tool. It allows small traders, mama mbogas, and young entrepreneurs to access quick, affordable financing without the barriers of traditional banking.
Since its launch, millions of Kenyans have benefited from short-term credit, promoting financial literacy, entrepreneurship, and savings.
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