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{
    "id": 915026,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/915026/?format=api",
    "text_counter": 261,
    "type": "speech",
    "speaker_name": "Isiolo North, KPP",
    "speaker_title": "Hon. Hassan Hulufo",
    "speaker": {
        "id": 13348,
        "legal_name": "Hassan Oda Hulufo",
        "slug": "hassan-oda-hulufo-2"
    },
    "content": "Most of the time, it is a requirement by the lender for a borrower to have people guarantee their applications. When we guarantee borrowers we do it in good faith, but from time to time various Kenyans who have guaranteed applications of their fellow Kenyans for loans have been exposed to many risks. This amendment is meant to cushion guarantors from this risk. We have had situations where borrowers have had their assets auctioned to recover bad loans by principal borrowers. We have also had situations where cooperative shares of guarantors have been used to offset bad loans. So, this amendment will give the responsibility of pursuing the principal borrowers on the lender. In most cases, even before they approve the loans, the lenders have their own ways of confirming credit worthiness of the borrowers."
}