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How To Apply For Hustler Fund Loan Using Your Phone

The Hustler Fund Loan, introduced by President William Ruto’s administration, is designed to provide affordable credit to small businesses, individuals, and groups. Below is a guide to help you apply for the loan using your phone.


Loan Features

  • Loan Amount: Kshs 500 to Kshs 50,000.
  • Interest Rate: 8% per annum (14 days repayment period).
    • Increased to 9.5% per annum after a 15-day grace period.
  • Repayment: Within 14 days, with penalties applied for defaults.
  • Eligibility:
    • Must be a Kenyan citizen aged 18 or above.
    • Low-income earner.
    • Member of an investment group, credit society, or registered association.
    • Valid Certificate of Good Conduct required.

Application Process via Phone

  1. Dial the USSD Code:
    • Dial *254# from your mobile phone.
  2. Select Option 1:
    • Follow the prompt to register for the Hustler Fund.
  3. Accept Terms & Conditions:
    • Read and agree to the terms provided.
  4. Enter Your Mobile Money PIN:
    • Input your Mpesa, Airtel Money, or T-Kash PIN.
  5. Confirmation:
    • A popup message will confirm successful registration.
  6. Loan Limit Notification:
    • You will receive a message with your loan limit within 2 hours.

Physical Application Process

For group or cooperative loans:

  1. Form a youth or women’s group.
  2. Draft a business proposal.
  3. Provide a valid Certificate of Good Conduct.
  4. Share your residential/home address.
  5. Collect signatures of four guarantors (two must be relatives).
  6. Sign a non-disclosure agreement.
  7. Open an account with KCB or National Bank.
  8. Present a valid KRA PIN.

Loan Repayment

  • Process: Repay through your mobile money account (e.g., Mpesa, Airtel Money).
  • Penalty for Default:
    • After 14 days: Interest increases to 9.5%.
    • After 30 days: Account frozen, credit scores lost.

Important Notes

  • Misuse or providing false information will lead to penalties.
  • Multiple loan applications with the same ID are prohibited.
  • Hustler Fund defaulters will not be listed on CRB but may lose credit scores and access.

For updates, keep checking for new announcements regarding the Hustler Fund.

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