President William Ruto has announced a major increase in the Hustler Fund loan limit, significantly expanding opportunities for Kenyan borrowers.
Speaking during the fund’s second-anniversary celebration on Monday, Ruto revealed that the loan limit has been tripled to benefit 1.5 million borrowers across the country.
The President also introduced additional incentives for borrowers who consistently repay their loans and save within the fund. Ruto said the initiative would empower underserved populations and improve financial inclusion nationwide.
“We have also introduced a new product—the Bridging Loan. This will enable all borrowers within the Hustler Fund ecosystem to triple their credit borrowing. Good borrowers will benefit from this new opportunity,” President Ruto stated.
Ruto explained that the Bridging Loan would provide borrowers with greater financial flexibility, allowing them to access increased credit and drive economic growth.
“Those with a limit of Ksh50,000 can now move to Ksh150,000, and those at Ksh5,000 will move to Ksh15,000. Some borrowers may also see a 1.5 percent increase in their limit due to their repayment behavior, while others will not see any increase due to poor financial practices,” he added.
Additionally, the Hustler Fund will now assign credit scores to borrowers, which will act as new collateral to access loans from other financial institutions.
“We are assigning a credit score to every borrower, which will act as their new collateral. This credit score can be utilized within the Hustler Fund ecosystem and other financial institutions,” President Ruto explained.
These new measures aim to make borrowing more accessible, reward responsible financial behavior, and provide opportunities for borrowers to build financial credibility and expand their borrowing potential.
