Ready Capital Teams Up with Esusu to Help Multifamily Sponsors Bolster Credit Scores for Renters
July 12 2023 - 4:15PM
Ready Capital Corporation (NYSE:RC) (“Ready Capital”), a
multi-strategy real estate finance company that originates,
acquires, finances, and services small- to medium-sized balance
commercial loans, today announced a partnership with Esusu, the
leading financial technology company leveraging rent reporting for
credit building to empower renters in the Ready Capital ecosystem.
The partnership allows Ready Capital to offer Esusu’s services
to their borrowers and respective tenants, creating a positive
outcome for renters and property owners. Esusu’s technology reports
on-time rent payments to the major credit bureaus (Equifax,
Experian and TransUnion), supporting renters as they establish and
build their credit scores. Those with positive rental payment
history could see immediate impact as a result of the platform’s
automatic 24-month look-back feature. In addition, implementing
Esusu’s rent reporting platform helps property owners,
incentivizing on-time payments, reducing tenant turnover, and
lowering eviction rates.
In addition to rent reporting, Ready Capital borrowers and their
renters will have access to other financial literacy and credit
education courses through the Esusu Renters Marketplace. The
partnership would also allow residents the opportunity to access
Esusu’s 0% rent relief program, which helps those at risk for
missing a rental payment. Esusu will also provide Ready Capital
with impact reports to track the outcomes generated in the
communities Ready Capital operates in.
“We are grateful for this opportunity to not only assist
multi-family housing tenants to establish a credit score but also
aid the sponsors by paying the first-year fee for Esusu’s valuable
and innovative service,” stated Ready Capital Chief Operating
Officer, Gary Taylor. “Through this partnership, we will continue
to help those who are underserved build financial stability and are
excited to support Esusu’s mission of positively impacting lives.”
“We are honored to work alongside Ready Capital to help advance
credit-building opportunities and create a transformational impact
in the communities they serve,” said Samir Goel and Wemimo Abbey,
Co-Founders and Co-CEOs of Esusu. “Esusu and Ready Capital share
the mission of doing well by doing good. Through this partnership
we will expand economic access to those traditionally excluded from
the financial system, strengthening financial identities and
supporting generational wealth building for years to come.”
About Ready Capital
CorporationReady Capital Corporation (NYSE: RC) is a
multi-strategy real estate finance company that originates,
acquires, finances and services small- to medium-sized balance
commercial loans. The Company specializes in loans backed by
commercial real estate, including agency multifamily, investor and
bridge as well as U.S. Small Business Administration loans under
its Section 7(a) program. Headquartered in New York, New York, the
Company employs over 600 professionals nationwide.
About EsusuEsusu is the
leading financial technology platform that leverages data solutions
to empower residents and improve property performance. Esusu's rent
reporting platform captures rental payment data and reports it to
credit bureaus to boost credit scores. This allows renters to build
and establish their credit scores while helping property owners
mitigate against initiating evictions, powered by differentiated
data and insights. Founded in 2018, Esusu reaches over 4 million
rental units across all 50 states in the United States. Learn more
at www.esusurent.com and follow us on Instagram @myesusu and on
Twitter @getesusu.
ContactReady Capital Media
RelationsPR@readycapital.com
SGPR on behalf of Esusuesusu@smallgirlspr.com
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