Applying for Hustlers Fund in Kenya in 2024

Hustlers Fund Loan 2024, Application Process, How to Apply

President William Ruto launched Hustler Fund in November 2022. The motive of introducing Hustler Fund in Kenya is to provide Instant Loans to citizens. The hustler fund borrowing is a great relief for individuals, groups or businesses who are looking for loans.

The Hustlers Fund Loan facility was promised by Ruto during the campaigns. As soon as he joined, the promise was fulfilled.

This article is dedicated to providing you complete information on Hustlers Fund. We have covered in depth about the Hustler Fund Loan Application Requirements, Terms and Conditions, How to Apply, Interest rates and even how to opt out. The reader is advised to don’t miss any section to get complete information of Hustler Fund.

Hustlers Fund Kenya

All about hustlers fund loans in kenya

What is Hustler Fund?

The Hustler Fund is a remarkable digital financial inclusion initiative in Kenya. It aims to provide comprehensive financial services to individuals in the underserved population and uplift micro, small, and medium-sized enterprises (MSMEs) operating in the informal sector.

The hustlers fund provides two loan products: the Personal Loan Product (PLP) and the Micro Enterprise Loan (Biashara Loan). These loans are meant to provide financial help for people dealing with financial difficulties or looking to grow their businesses.

Hustler Fund Loan Products Explained

When we talk about Hustler Fund Loan, kindly understand that, it is not a product itself. Hustlers Fund consists of two Loan products namely Personal Loan Product (PLP) and Micro Enterprise Loan.

Personal Loan Product (PLP)

Personal Loan product, as the name suggests is loan product designed to provide financial support to the majority of the informal sector in Kenya. This loan is for the individuals who are in need to money.

A minimum loan amount of Kshs 500 can be availed. The maximum loan amount for Hustler fund personal loan is Kshs 50,000.

5% of the approved loan amount is deducted for savings.


  • Kenyan citizens above 18 years old, having a valid national identification card (ID) are eligible
  • Other requirements include a registered mobile number from a recognized mobile network operator in Kenya.
  • The applicant should be a permanent resident of Kenya and must not be conducting any economic activity outside of kenya.
  • The applicant needs to provide sub county of residence during the application process.

Micro Enterprise Loan

The Micro enterprise loan product is for the Kenyans who want to expand their business and looking for financial asssitance. Business that are solely owned or registered with BRS are eligible for Micro Enterprise Loan under the Hustlers Fund program in Kenya.

The Micro enterprise loans are divided into two categories which are:

  1. Group Micro Enterprise Loan Products (GMELP)
  2. Individual Micro Enterprise Loan (IMELP)

Let’s now understand GMELP and IMELP in greater depth.

Group Micro Enterprise Loan Products

As the name suggests, GMELP or Group micro enterprise loan products– Hustler fund ya vikundi loan product is for Kenyans who have a formally recognized group and need funds to grow their business.

Under this loan product, you are eligible for Loans upto Kshs. 1,000,000. Minimum loan amount is Kshs. 20,000.

Eligibility Criteria
  • Age of applicant should be above 18 years and applicant must hold a valid ID.
  • The applicant must have a group which comprises of atleast 5 members.
  • The Group should be enagaged in economical activities.
  • The Chama or Group should be verified by relevant government institutions.
  • Every member of the group should have an active sim card for the past 3 months. Also any group member should not be an exiting loan defaulter.
Interest Rate
  • The interest rate is 7%.
  • The repayment schedule is 6 months.
  • 5% of the approved amount would be invested towards groups members saving scheme.

Individual Micro Enterprise Loan (IMELP)

Kenyans who have businesses that are sole owners of businesses that are registered by BRS are eligible for Individual Micro Enterprise Loan under the Hustlers Fund Loan program in Kenya.

The max loan amount as per this product is Kshs. 200,000. The repayment tenure is 6 months.

Eligibility Criteria
  • Age of the applicant should be atleast 18 years.
  • The applicant should have a valid Kenya ID.
  • The applicant must have an active sim card for atleast 90 days
  • Applicant must have a business KRA Pin
  • The applicant must not have defaulted on personal level or on any Product & Group/ Chama
Interest Rate
  • The interest rate is 7% per annum on reducing balance and 1.5% default rate.
  • 7% is the annual interest rate charged on the loan.
  • Also note that the 5% of the approved amount is added to borrower’s saving scheme.

For More clarity, Kindly check the Hustlers Fund Terms and Conditions.

Huster Fund Application 2024 : How to Apply

At this point, i am expecting you to know all about the Hustler Fund Loan products. Now, we are at very important section which is Husters Fund application process.

First, make sure you are eligible for any of the above mentioned loan products. Now, you can apply any of the below given approaches to apply for hustler fund loan.

Huster Fund Loan | Apply Via USSD

You can used the Hustler fund USSD to apply. No matter which carrier is your service provider, the process remains the same. Follow these steps:

  • Dial *254# from your phone
  • Now, you need to select the loan request option to view the limit, interest and Loan tenure.
  • Then, enter the required loan amount and press ok.
  • Now the details selected by you will reflect on the screen. Confirm the details to continue.
  • Enter your Mpesa pin to proceed.

If all goes well till this point, you shall receive a confirmation message with the relevant loan information.

Do Read : What are Top Trustworthy Instant Loan Apps in Kenya in 2024?

Hustlers Fund Registration on Mobile App

You will be glad to know that now you can also apply for hustler fund loan through mobile apps. Yes, at this moment MPesa mobile app has a dedicated option to apply for hustler fund.

If your sim is with other providers, you need to Dial *254# and follow the process mentioned above. Even safaricom users can do the same but they have the option to apply via mobile app.

Process to Apply for Hustlers Fund Loan on MPesa App

  • Open the M-Pesa App
  • On the bottom, Click on the “Grow” Option
  • Now, another page opens up.
  • Here, you need to click on “Hustler Fund”
  • On the next page, click on “Get Started”
  • Now, Accept the terms and conditions and Click on “Opt In”
mpesa hustler fund step
  • After you successfully register, you get an confirmation SMS

If you are facing any problem during the hustler fund application or have any other related query, you can contact the Hustler Fund Customer Care.

Hustler Fund Kenya : FAQs

Below are some of the commonly asked questions and their answers.

Quick Links

Official Website
More Articles on Hustler FundCheck Here

I hope, this article enhances your understanding towards hustlers fund loans in Kenya. Feel free to ask questions or share any other relevant information.

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