The Hustler Fund has become one of the most talked-about government-backed initiatives in Kenya, especially among small business owners, youth, and individuals looking to boost their financial freedom.
If you’re wondering how to apply for the Hustler Fund or whether you’re eligible, this article breaks it down for you – step-by-step.
What is the Hustler Fund?
The Hustler Fund is a financial inclusion initiative by the Kenyan government, launched to provide affordable credit to small businesses, startups, and low-income earners. It aims to support the “hustler” – the everyday Kenyan striving to make a living through business or self-employment.
The fund is part of the Bottom-Up Economic Transformation Agenda (BETA) and is designed to reduce dependence on predatory loans by offering low-interest credit to the underserved population.
Types of Hustler Fund Products
There are currently four categories under the Hustler Fund:
- Personal Finance Product – for individual loans.
- Micro Loan Product – for small businesses and informal traders.
- SME Loan Product – for registered small and medium enterprises.
- Startup Loan Product – for new businesses with a viable idea and a plan.
Hustler Fund Eligibility Criteria
To qualify for the Hustler Fund, applicants must meet the following requirements:
For Individuals (Personal Loan):
- Must be a Kenyan citizen aged 18 years and above
- Possess a valid national ID (ID card)
- Have a registered mobile number from Safaricom, Airtel, or Telkom
- The mobile number must be active for at least 90 days
- Must have a mobile money account (M-PESA, Airtel Money, or T-Kash)
- Have a good credit standing (i.e. not blacklisted by CRB)
For SMEs and Groups:
- Must be a registered business or group
- Provide valid registration certificates
- Be compliant with tax and licensing regulations
- Demonstrate a clear business plan and revenue model
- Have a group account or business bank account
How to Apply for the Hustler Fund
Applying for the Hustler Fund is quick and easy. Here’s a step-by-step guide:
For Individuals (Personal Loan):
- *Dial 254# (works across major telcos)
- Select the Hustler Fund option
- Follow the prompts to register
- Check your loan limit
- Accept terms and conditions
- Enter the amount you want to borrow
- Confirm your PIN
Once approved, the money is sent directly to your mobile wallet (e.g. M-PESA).
For SMEs or Groups:
Visit the official Hustler Fund website or portal (e.g. www.hustlerfund.go.ke) and:
- Create an account or log in
- Submit your business documents
- Fill in the loan application form
- Provide your financial details and business plan
- Await approval and disbursement
Loan Limits and Interest Rates
- Loan limits start from KSh 500 to KSh 50,000+ (for individuals) and can grow with a good repayment history.
- Interest rate is a flat 8% per annum, which is significantly lower than many digital lenders in Kenya.
- Repayment periods vary depending on the loan product, ranging from 14 days to 12 months.
Benefits of the Hustler Fund
✅ Low-interest rates
✅ No collateral required
✅ Instant disbursement via mobile money
✅ Builds your credit history over time
✅ Encourages a saving culture (5% of every loan goes to your savings wallet)
Common Mistakes to Avoid
❌ Registering with a number that’s not in your name
❌ Defaulting on repayment (hurts your loan limit)
❌ Sharing your PIN with others
❌ Using the loan for non-productive purposes
Final Thoughts
The Hustler Fund is a game-changer for millions of Kenyans, especially those previously excluded from the formal financial system. Whether you’re a boda boda rider, mama mboga, small shop owner, or a budding entrepreneur – this fund offers a chance to grow your hustle.
As long as you meet the eligibility requirements and use the funds wisely, the Hustler Fund can be the boost you need to reach your financial goals.