If you have taken Hustler Fund loan and refused to repay, you are in trouble as RUTO goes nuclear on defaulters – Look!

Monday, April 1, 2024 - Hustler Fund defaulters may be blocked from renting houses and eventually accessing loans if a new proposal by the government is adopted.

This is according to the Acting Chief Executive Officer (C.E.O) of the Financial Inclusion Fund, Elizabeth Nkuku, who noted that President William Ruto’s government is developing a credit score rating system that will be used to assess eligibility for home ownership.

Speaking during an interview, Nkuku stated that hustler loan defaulters may be unable to access future funding, including loans from select financial institutions.

“So, one of the things we are going to do and we are going to roll it out is creating a score that can tell you, if you’re going to come and rent my house let me see your hustler fund score,” stated Nkuku.

It was further explained that the credit score rating system if successful, will rely on one’s track record and history in repaying borrowed funds. 

There are also plans to eventually do away with the requirement to have collateral while borrowing.

The credit score rating will be based on awarding points for those who repay their loans on time, consequently easing their access to acquiring loans.

Initially, the system will feature reviewing the hustler fund loan defaulters before proceeding to include other lenders.

“So eventually we shall grow this for a more comprehensive review so you are not looking at only the Hustler Fund, but how we shall include other people”, elaborated Nkuku.

Individuals who pay their loans on time will be able to use that as leverage to gain more loans and larger amounts in their future pursuits.


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