The journey of a Deki loan

Every time you make a loan on the Deki lending platform, you become part of an incredible journey. The loan you’ve made is about to travel thousands of miles on its journey to reach your chosen entrepreneur and back again.

On this journey it will change currencies and cross borders. It could travel online, by motorbike or by bus to reach your chosen entrepreneur in their community. It will change hands to be invested, repaid and returned. A lot must happen for a Deki loan to complete its journey.

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Come follow the journey of ‘Adjo’s Second Deki Loan’ and meet the people who make this loan a success.

Adjo’s Second Deki Loan

Adjo has been part of her local Village Savings and Loan Association (VSLA) for two years. Adjo wanted to improve her business and following her first loan, which she successfully repaid, she applied for her second Deki loan through our Field Partner. Like all loan applications, Adjo’s request and business plan was reviewed by the Field Partner’s credit committee. The credit committee approved Adjo’s loan and sent the loan application to Deki through our secure online reporting platform.

In the Deki office in Bristol, the loan application was checked to ensure that all information was filled out and correct and that Adjo’s loan application met Deki’s criteria. The loan was then uploaded to the Deki lending platform – ready to be funded by our amazing Deki supporters.

(1) All over the world, Deki supporters logged on to the Deki lending platform, read Adjo’s story and chose to help Adjo with a hand-up by making a small loan in GDP. Within a week, Deki supporters had fully-funded Adjo’s loan.

(2) As the Field Partner had fulfilled their partnership obligations, Adjo’s loan was approved by Deki along with other fully-funded loans. The loan capital was then converted to the Field Partner’s local currency, using the most recent exchange rate. The loan capital was sent interest-free to the Field Partner, via a secure online banking system.

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(3) In country, Adjo’s credit officer, Mary, travelled to Adjo’s community by motorbike to visit Adjo and to hand over her Deki loan in cash. This loan came with a small interest rate, which helped our Field Partner to remain sustainable.

Over the following months Adjo worked hard. She attended fortnightly training sessions with other VSLA members, invested her loan and grew her business.

(4) Each month, Adjo made small repayments. One month she could not make a repayment as she had been sick and had not been able to work. Together, Mary and Adjo worked out a new repayment plan to make sure Adjo was supported. Mary recorded Adjo’s repayments on our online system, which let us know if Adjo has been able to make a repayment or not.

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(5) Every month, along with a report, the Field Partner sent Adjo’s repayments back to Deki in their local currency.

(6) The following month, Deki checked and approved Adjo’s repayments, converted them back into GDP then returned them to Deki lenders through their Deki account.

(7) After a year of hard work, Adjo successfully made her last repayment. Mary and Adjo sat down and discussed what difference the loan, training and support had made to her life. This chat was then recorded against a set of milestones, which forms the basis of reporting on Deki’s impact.

Adjo’s loan crossed continents, changed currency, travelled online, on a motorbike and all the way back again to ensure that our lenders’ funds are supporting their chosen entrepreneur. This long loan process is monitored by Deki every step of the way for each entrepreneur and each lender.

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The story of Adjo’s second loan is one of success, but for many loans this journey can be much more difficult. From volatile exchange rate fluctuations to unexpected droughts or medical emergencies to be covered, many factors can affect a Deki loan’s journey. We’re always working hard to improve this process, from supporting our Field Partners during transitional periods, or even reviewing our whole Field Partner management process, as we did throughout 2018.

Our aim is to help communities thrive and to provide opportunities for our entrepreneurs to lift themselves out of poverty – and always looking to do it the best way we can.