Different Lenders in Kenya

Best Banks In Kenya

1. Digital Lenders

1. Hustler Fund:

Initiated by the government on November 30, 2022, the Hustler Fund swiftly became a game-changer for businesses. Offering loans ranging from 500/= to a substantial 50,000/=, this fund garnered an impressive 19 billion shillings within three months. Eligibility is open to all, with credit scores determining access levels. The second phase, launched in March 2023, extends the loan limit to 2.5 million shillings, challenging traditional financial institutions. Dial *254# on your mobile phone to seize this opportunity for your business.

2. Vooma App: KCB’s Mobile Wallet

Kenya Commercial Bank’s Vooma App offers a versatile mobile wallet, facilitating payments, savings, and loans across all networks. Accessible to Android and iOS users, joining is a breeze with an active KCB account. Dial *844# or download the app from Google Apps Store or iOS Store, ensuring your account remains active for at least six months with four deposits.

2. Reliable SACCOs

SACCOs, or Savings and Credit Cooperative Societies, present a viable avenue for business financing. Despite cautionary tales, reputable SACCOs offer diverse savings and investment opportunities. Here are some noteworthy options:

1. Stima Sacco:

Founded in 1974, Stima Sacco has evolved into a financial powerhouse, extending its services beyond the energy sector. With a robust asset base and dynamic products, members enjoy competitive savings and accessible loans. Contact them at 0703024000 or info@stima-sacco.com for membership details and business loan inquiries.

2. Safaricom Sacco:

Established in 2001, Safaricom Sacco prioritizes cultivating a saving culture among its 12,000+ members. Open to Safaricom LTD and tech-related organizations, it provides avenues for members to access loans for personal and business development.

3. Sheria Sacco:

With roots dating back to 1972, Sheria Sacco boasts over 10,000 members from diverse sectors. Recognized for prudent management, it offers various loan products, including salary advances, development loans, and emergency loans.

4. Kenya National Police DT Sacco:

Established in 1972, this Sacco has grown exponentially to support over 63,000 members. Providing an array of credit products, including business loans, it emphasizes financial inclusivity. Inquire about membership and loan opportunities by calling 0709 825 000 or emailing info@policesacco.com.

5. Mwalimu Sacco:

As the largest Sacco in Kenya, Mwalimu Sacco caters to educators and their families. Offering BOSA loan products, business loans, and welfare loans, it aims to fulfill the financial needs of its diverse membership.

6. Harambe Sacco:

Originating in 1970, Harambe Sacco has evolved into a major player with over 80,000 members. Serving national and county governments, police services, and parastatals, it offers diverse services through BOSA and FOSA.

7. Unaitas Sacco:

Established in 1993, Unaitas Sacco prioritizes financial accessibility for its 320,000+ members, including small businesses. Offering innovative solutions like development loans and asset financing, it stands as a reliable partner.

8. The Kenya Bankers’ Sacco:

Launched in 1975, The Kenya Bankers’ Sacco serves employees in the banking sector. Extending its reach to spouses, children, and other institutions, it focuses on mobilizing savings and providing affordable loans.

9. United Nations Sacco Society:

Operational for over 40 years, the United Nations Sacco Society caters to members from UN agencies, diplomatic missions, and international organizations. Offering a diverse range of financial products and up to 15 loan types, it ensures members worldwide can access services.

3. Other Major Lending Options

Apart from SACCOs, diverse funding options cater to different business needs:

1. Microfinance Institutions:

Microfinance institutions like SMEP Microfinance Bank, Kenya Microfinance, Rafiki Microfinance, and Musoni provide flexible business loan solutions, though interest rates may be higher.

2. Commercial Banks:

Large commercial banks like Cooperative Bank, Equity Bank Kenya, NCBA, ABSA, and KCB offer tailored loan products for various business needs. Explore MSME Term Loans, overdrafts, and more.

Loan Types in Kenya

Navigating the array of business loan types requires insights into the offerings:

1. Bank Loans:

Banks like Absa, Equity Bank, KCB, and Cooperative Bank offer short-term and long-term loans, secured or unsecured, catering to diverse business needs.

2. Business Overdrafts:

Business overdrafts provide flexibility by allowing businesses to withdraw more than their account balance, supporting daily operations and working capital needs.

3. Microfinance Loans:

Microfinance institutions like Equity Bank extend various business loans, meeting specific needs such as education, agriculture, and emergencies.

4. Business Cash Advances:

KopoKopo and Safaricom’s Pochi La Biashara offer business cash advances, leveraging future assets and daily sales for immediate working capital.

5. Digital Loans:

Digital loans through platforms like MCo-op Cash, Timiza, KCB app, and Eazzy app provide convenient and accessible financing with minimal requirements.

6. Sacco Loans:

Saccos, with their low-interest rates and inclusive eligibility, remain a preferred choice for business loans. Explore the potential of securing loans three to four times your savings.

7. Asset Finance Loans:

For businesses requiring equipment, asset finance loans offer a secured option, with the equipment itself serving as collateral.

8. Chama Loans:

Designed for registered self-help groups, welfare, and investment groups, Chama loans foster wealth creation with specific eligibility criteria.

9. Logbook Loans:

Secured by your vehicle, logbook loans provide an avenue for obtaining business financing, albeit with associated risks.

10. Shylock Loans:

While Shylock loans may seem accessible, their excessive interest rates and associated risks make them a last resort for business financing.

11. LPO Financing:

LPO financing supports businesses in fulfilling contracts by providing working capital based on the contracted agreement.

12. Loans Secured by Shares:

Secured by your savings account balance, loans secured by shares offer a low-interest option to build or rebuild credit.


Kenya’s entrepreneurial ecosystem thrives on a rich tapestry of funding options. Whether leveraging government initiatives, embracing mobile wallet solutions, or entrusting established SACCOs, businesses can find tailored support. Understanding the diverse business loan types and alternative funding channels empowers entrepreneurs to make informed financial decisions, contributing to the sustained growth of the Kenyan business landscape.

For businesses or individuals seeking financial partnerships in Kenya, the Muiaa Pesa platform offers a gateway to connect with a diverse array of public and private banks. Engage in meaningful conversations, outline your requirements, and explore competitive interest rates. Make an informed decision that propels your business towards sustainable success.

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