Esusu Finanical Press Release

  • Esusu Finanical Press Release

FOR IMMEDIATE RELEASE

Thursday, December 1, 2022
Media Contact:  Penny Martin
Phone: 614.728.2911
Email: pmartin@ohiohome.org


OHFA Partners with Esusu to Help Residents Build Credit Scores

COLUMBUS, OH - The Ohio Housing Finance Agency (OHFA) Board approved a partnership with Esusu Financial, Inc., the leading financial technology company leveraging rent reporting for credit building to help families living in nine affordable housing developments funded by OHFA build their credit scores. The Esusu online platform will link to the property management software used by the managers of the apartments to the three national credit bureaus, automatically reporting on-time rent payments.

"A strong credit score opens doors for Ohio families, such as lower interest rates and more credit options," said Shawn Smith, Executive Director of OHFA. "And, over the long term a strong credit score can help renters realize their dream of homeowners as well as improve their economic mobility in the future."

Rent is the largest and most consistent debt payment a renting household makes each month. Capturing the on-time rental payment will help residents build and/or improve their credit scores. OHFA's partnership with Esusu supports its commitment to advancing equality through affordable housing.

OHFA will subsidize this service for families who rent an apartment in nine developments (443 rental units) across Ohio over a 15 year period. Providing services and support for residents in proposed and existing OHFA-funded communities will increase and sustain generational financial well-being among residents in these properties.

Esusu's customers reach over three million rental units across all 50 states in the U.S. and recently collaborated with both Fannie Mae and Freddie Mac to provide its rent reporting platform to properties financed by each entity.

"This partnership is designed to help residents build healthier financial futures through rent reporting," said Samir Goel and Wemimo Abbey, Co-Founders and Co-CEOs of Esusu. "Esusu and OHFA share a mission to provide access to credit and wealth-building opportunities for renters who have historically had limited options."

Founded in 2018, Esusu's platform captures on-time rental payment data and reports it to credit bureaus to boost credit scores. This enables tenants to build and establish their credit scores while helping property owners attract tenants, reduce turnover and improve collections to increase their operating income. The company has a blended workforce of 200 people and is headquartered in New York City.


The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry. Please visit www.ohiohome.org for more information.