The Hustler fund is a digital loans initiative designed to improve financial access to individuals, micro, small, and medium-sized enterprises (MSMEs) in Kenya. It is an initiative of the Kenyan Government and it aims to disburse Ksh. 50 billion in loans.

Hustler Fund loans are available on USSD and on the respective telecommunication company’s apps that include the Mpesa app, T-Kash App and the Airtel Money App.

To register you will need to use the USSD code *254# on all networks or through the apps. You will be prompted to accept the terms and conditions and then requested to enter your mobile money PIN such as your MPESA Pin if you use a Safaricom line.

Once you complete, you’ll wait for confirmation with a text sent to the mobile number you have registered for the fund alerting you if you have successfully been registered. You will then be given a borrowing limit.

The loans from the Hustler Fund are offered with an 8% interest rate per annum. If you default on repaying your loan, you won’t be listed on the CRB and you can reborrow. The loans can be repaid at once or in instalments. The loans need to be repaid within 14 days and the interest rate goes up to 9.5% per annum after 15 more days without repaying. The fund will freeze your account if go 30 days without paying your loan.

There are four products available under the Hustler fund:

  • Personal Finance – (Ksh. 500 to Ksh. 50,000 depending on your credit score)
  • Micro Loans
  • SME Loans
  • Start Up

Personal loans range from Ksh. 500 to Ksh. 50,000. Loans for Chamas start at Ksh. 50,000 to Ksh. 250,000 and groups have a Ksh. 10 million limit.

To be eligible for a Hustler Fund loan, you have to:

  • Be 18 years old with valid Kenyan ID
  • Be permanent Kenyan resident
  • Have an active mobile money account with either Safaricom, Telkom or Airtel
  • Have a SIM card that has been active within the last 90 days