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Shika USSD Code and Loan Application

By Oluchukwu Ikemefuna

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You can borrow money and repay it using the Shika Loan app, an online lending platform, directly from your smartphone. For this reason, you can download an application to your phone, log in, and apply for a loan using it.

Shika Loan gives you the financial support you need to get by because it recognizes that, even if you have a job, there are times when you need additional money to cover expenses and that waiting for your paycheck could seem never-ending.

As a platform for loan access, Shika recognises the need to remove obstacles that impede credit accessibility and, as such, provides quick and easy access to loans, regardless of your class, without putting your credit at risk or resulting in loss. 

We’ll tell you about additional fascinating details about the Shika lending app in this post.

We’ll cover all the information you require about the Shika loan app in this post, including how to apply, the loan amount, and contact information for customer support.

Read also – Kesmall Loan: How to Apply and other Important Details

About Shika Loan

Kevin Mutiso founded Alternative Circle in March 2016 with the goal of providing financial access to over 200 million individuals globally. The company’s first product was the Shika Loan app. 

Shika is a lending platform that gives those who meet their basic eligibility requirements immediate access to microloans with adjustable payback schedules.

Before taking out a loan, Shika users are able to see their borrowing limitations. All that’s needed to use Shika is a current M-Pesa mobile money account linked to a Safaricom phone. Financial institutions can also use the platform to reach new borrowers by leveraging it.

Shika Loan USSD Code

Unfortunately, at present, there isn’t a Shika loan USSD code available for obtaining a Shika loan. Instead, accessing a Shika loan is exclusively facilitated through the mobile application. 

To initiate the process, individuals need to download the Shika app onto their Android smartphones. Once installed, users are required to register an account within the app, a straightforward process involving providing personal details and completing identity verification. 

Subsequently, logging into the app enables users to proceed with the loan application. The application entails selecting the desired loan amount and completing the necessary steps prompted within the app interface. While the absence of a USSD code limits immediate access for users without smartphone capabilities, utilizing the Shika app ensures a seamless and secure borrowing experience. 

By prioritizing accessibility through mobile technology, Shika strives to cater to a broad spectrum of users while maintaining the simplicity and efficiency synonymous with its loan services. Therefore, for individuals seeking Shika loans, the path to financial assistance lies in downloading the app, creating an account, logging in, and then applying for the loan within the app’s ecosystem.

Read also – Vooma Loan and Vooma Loan Limit

Requirements needed to apply for Shika loan

Applicants must fulfill specific standards in order to apply for a Shika Loan in Kenya. These requirements guarantee both a seamless loan application process and responsible loan repayment management on the part of borrowers. Although specifics should always be verified with Shika directly, the following are generally the prerequisites for eligibility:

  • Kenyan Resident: Since the service is only intended for the Kenyan market, applicants must be citizens of Kenya.
  • Age Requirement: In order to enter into a financial agreement, borrowers must be of legal age, which is often 18 years or older.
  • Active M-PESA Account: Having an active M-PESA account is necessary because Shika distributes loans via M-PESA.
  • Android Smartphone with Internet Access: In order to download and utilise the Shika app, candidates must have an Android smartphone with internet access. Shika works through a mobile app.
  • Valid identity: To verify your account on the app, you must present a national ID or any other acceptable form of identity.
  • Safaricom Subscriber: Due to the platform’s integration with Safaricom’s M-PESA system, Shika lending services are currently only available to Safaricom users.
  • Download the app and sign up: Prospective borrowers need to finish the registration process and download the Shika app from the Google Play Store. Usually, this entails creating an account and submitting personal information.
  • Creditworthiness: In order to establish a loan limit, Shika may evaluate an applicant’s creditworthiness based on their history of M-PESA transactions as well as other financial behaviors.

Fulfilling these prerequisites is essential for applying for and getting approved for a loan from Shika in Kenya. Since these can vary over time, prospective borrowers are advised to verify the most recent requirements and modifications using the Shika app or its customer support.

Maximum and Minimum Loan to Get From Shika Loan App

Customers using the Shika loan app can borrow as little as Kshs. 500 and as much as Kshs. 10,000, with no additional fees and a 30-day repayment period.

Before you submit your loan application, Shika will estimate your loan limit and the amount you will need to repay. Your credit history determines this limit. Your loan limit will increase if your credit history is good.

Read also – Why is my M-shwari Loan Limit Zero in 2024?

How to Apply for a Shika Loan

As long as you match their basic eligibility requirements, applying for a loan from Shika is quite simple and can be completed in as little as three minutes. The procedures listed below can be used to obtain a Shika loan:

1. Download the Shika Loan App: This application is available for download on the internet.

2. Create an account: You will need to provide both an M-Pesa account that is linked to a Safaricom phone number and a legitimate national ID in order to create an account.

3. Apply for a loan: Following the successful creation of your Shika account, you can see your loan limits on the dashboard and select the “Apply for a Loan” option to request a loan up to the amount and time that you are qualified for.

4. After submitting an application, your loan request is reviewed for approval. If it is accepted, funds will be transferred to your M-Pesa account in three minutes.

Eligibility Criteria

You must fulfil Shika’s fundamental qualifying requirements in order to be eligible for a loan. which are:

1. You must already have an active M-Pesa mobile money account in order to register for a Shika account.

2. Using your M-Pesa transaction history, you construct your loan eligibility as a new user on the Shika app. On the other hand, future eligibility is determined by your reputation on the Shika app, which is based on how frequently you request and repay loans.

Note: On the Shika loan app, you may typically get larger loan amounts if you have a solid transaction/loan history.

How to Repay Your Shika Loan

Loans obtained with the Shika loan app can be repaid via M-Pesa or the Shika loan app.

As long as the repayment window is not exceeded, borrowers on Shika are able to choose to repay their loans in weekly or daily installments. Regarding loan payback with the Shika loan app:

Open the Shika Loan app and log in.

2. Select the Repay option from the dashboard.

3. Make a copy of the Shika loan number shown.

4. Finish the transaction on the M-Pesa page that appears.

For loan repayments via M-Pesa:

  • Open an M-Pesa account and log in.
  • When you click “Lipan an M-Pesa,” choose PayBill.
  • Put in the PayBill number for the Shika loan.
  • Enter your mobile number in the Shika application.
  • Enter the amount being repaid.
  • Use your M-Pesa transaction PIN to approve the transaction.
  • Check for Shika and M-Pesa payment notifications.

Read also – Loan Calculator and How to Use it

Extra Important Information on Shika Loan App

  • Please be aware that there are additional fees associated with a loan that is collected if it is not repaid within the allotted time frame.
  • 10% is added to the loan amount that you must repay if you do not pay back the loan within 30 days of the repayment window.
  • If the borrower does not cooperate and return the loan within 60 days, they will put the consumer on a credit bureau blacklist in Kenya.

Shika Loan Limits

Your potential loan amount with Shika is determined by your creditworthiness, primarily influenced by your repayment history with them. Consistently repaying your loans on time is the key to unlocking higher loan limits. By demonstrating responsible borrowing behavior, Shika may reward you with increased loan amounts or limits for future applications.

Initially, as a first-time applicant, your loan limit might start at KSH 500. However, as you build a positive repayment track record, this limit has the potential to escalate significantly. Subsequent applications could see your loan limit rise to KSH 1000, and with continued timely repayments, it could even soar to a maximum of KSH 20,000. This gradual increase reflects Shika’s trust in your ability to manage borrowed funds responsibly.

Moreover, the loan duration provided by Shika Loan is flexible, ranging from 30 days and beyond, offering borrowers ample time to repay their loans comfortably. This adaptable repayment period caters to varying financial needs and circumstances, ensuring borrowers can manage their repayments effectively.

In essence, fostering a history of timely repayments not only enhances your borrowing power with Shika loan but also strengthens your financial standing, paving the way for greater access to financial resources when needed.

Read also – Latest way to Buy Airtel Airtime on MPesa 2024

Shika Loan Customer Contact Number

For inquiries or assistance with Shika loan, you have multiple contact options. You can visit their office located at 4th Floor, Interswitch Offices, Orbit Place, Chiromo Lane, Westlands, Nairobi. Additionally, you can reach out via phone call or SMS at 0742143999, or send an email to Care@shika-app.com. 

Before contacting them, ensure you have a clear understanding of your query or the type of assistance you require, as their customer support is primarily for addressing complaints.

Shika loan stands out as a reputable lending platform in Kenya, offering a straightforward loan application process through their mobile application. Once you’ve obtained a loan, timely repayment is crucial. The exciting part is that responsible borrowers may see an increase in their loan limit after repayment. 

However, if your loan application is initially declined, don’t worry. Simply be patient and consider applying again after a few days. Shika strives to provide accessible financial solutions to its users, ensuring they have the support they need to meet their financial needs effectively.


Is there a USSD code for accessing the loan?

Currently, loans are not available through USSD codes. Loans are exclusively facilitated through the Shika mobile application.

How do I download the Shika mobile application?

You can download the Shika mobile application from the Google Play Store for Android devices.

What are the eligibility criteria for applying?

Eligibility typically includes being a registered mobile money user and having a good repayment history.

What documents do I need to provide to apply?

Generally, you’ll need to provide identification documents such as your ID or passport.

How much can I borrow?

Loan amounts vary based on eligibility and repayment history, but usually range from Ksh 500 to Ksh 20,000.

What is the repayment period for loans?

The repayment period is typically short-term, ranging from a few days to a month.

How do I apply for a loan?

Simply download the app, create an account, log in, select the loan amount, and follow the prompts to complete the application process.

How long does it take to receive the loan once I apply?

Once your loan application is approved, funds are usually disbursed to your mobile money account within minutes.

What happens if I can’t repay the loan on time?

If you’re unable to repay on time, Shika may impose penalties and may also restrict your access to future loans.

Is my information secure when applying for a loan?

Shika prioritizes data security and uses industry-standard encryption protocols to safeguard your personal and financial information.


The Shika loan app and its platform have shown to be beneficial to people and companies in need of quick access to capital without having to deal with the burden of obtaining the exact and rigorous documentation required by the majority of financial institutions.

With the Shika loan app and platform offering some of the cheapest rates in Kenyan microlending, more people and companies will definitely use the app and its entire platform.

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Oluwatobi Olowe
Oluwatobi Olowe

Tobi Olowe has over 3 years of experience as a content writer specializing in Tech discoveries, site optimization, building content that rank well and boosting overall site performance.

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