Deki FAQs

Do I have to have a Deki account to lend money?

Yes, in order to lend money or buy a gift voucher you need to create an online account with Deki. It is easy and takes only a few minutes. Create your account now.

How do I lend?

  1. In order to lend you first need to create a Deki account. Click ‘Lend’ at the top of our home page. You’ll be taken to a list of entrepreneurs.
  2. Select who you’d like to support and how much to lend from the drop-down menu. Click ‘Lend Now’.
  3. To support another entrepreneur – click ‘View more entrepreneurs’.
  4. View your Basket: here you can change your loan amount, remove an entrepreneur and add/edit an optional donation to Deki.
  5. You’ll need enough funds in your Deki account to make the transaction – you will be directed to PayPal to add money to your Deki account. You don’t need to have a PayPal account – you can use a debit or credit card and you will see this option once you click ‘Pay via Paypal’ button.
  6. You can make an optional donation to Deki to cover our running costs. If you’d rather not donate, please delete this amount and press ‘Update’.

What happens after I lend?

Deki keeps you updated throughout your loan. You can check your account balance any time by signing in to your account.

Once a repayment has been made you have three options:

  1. Re-lend funds – if you have less than £10 credit you can always top-up.
  2. Donate the repaid amount to Deki.
  3. Withdraw the funds

How do I deposit funds into my account and lend them later?

  1. Sign into your Deki Account.
  2. Click ‘My Account’.
  3. Click Add Credit and follow the steps.

Can I lend less than £10?

£10 is the minimum loan amount. Due to transaction fees, Deki cannot administrate loans less than this.

Can my company create an account?

Yes! You can create a company account in the same way as an individual. Simply use your company name as your username and enter it in the ‘first name’ box. You can also upload the company logo. Featured lenders appear on the home page, so people can see that your company invests in people overseas.

Do I have to use PayPal?

You don’t have to use PayPal to make a loan. When directed to PayPal login page there is an option on the page to continue paying by credit card.

When can expect to start to receive repayments?

Once your chosen entrepreneur is fully funded you will receive a notification email. The loan will then be reviewed and approved and transferred to the Field Partner for disbursement along with training. How quickly you receive repayments will depend on what type of loan you funded. Typically a market trader will start to make repayments sooner than a farmer who may need to plant their seeds, grow their crop and then take it to market to sell. Typically you should start to receive repayments in about four months and most loans are repaid within 12 months.

How long will it take for the loan to be repaid?

Depending on the type of loan most Deki loans are typically repaid within 12 months.

Will I get monthly updates on my entrepreneur?

No, our field partners are small organisations with limited resource and they often have to travel far to collect repayments from the entrepreneurs, to take their photos, etc. Their internet and phone access is often not reliable. We encourage them to send in updates on their entrepreneurs as often as they can and we have collected a number of success stories. Nevertheless, regular progress updates on every single entrepreneur are not currently realistic. We hope you understand this. Regular repayments from your entrepreneur are a good sign that their business is doing well.

How can I withdraw my account balance?

You are able to withdraw your account balance via your Deki profile. Currently you are only able to withdraw funds over the amount of £10, or if a loan has been fully repaid. You will receive any withdrawal requests within 21 days from the original request, via Paypal.

My loan was refunded to me. Why does this happen?

It is our standard policy with all our field partners that Deki loans need to be distributed within 60 days of being funded. This is to ensure they reach the recipients in good time. After this period, if still not distributed the field partner needs to return the loans to us. This is a safety mechanism that ensures the loans are responsible and ethical. The entrepreneurs can always reapply for another loan given their circumstances haven’t changed. It is our hope that you’ll use your funds to support another entrepreneur.

How long will it take to get my money back?

Deki works with marginalised people, many of whom have been excluded from the financial sector. For many of our entrepreneurs, this is their first ever loan. As we work with such high-risk group, some of your loans will not be repaid (in part or full), and some loans will be written off. Please only lend those amounts you are prepared to lose.

Will Deki notify me when my loan has been repaid?

Yes, you will receive a monthly update detailing repayments of your entrepreneur(s) and giving an overview of your Deki account balance.

Why do you sometimes pause lending?

While we try to ensure that entrepreneurs can be funded all year round, it is sometimes necessary to pause loans for short periods of time, to allow our field partners to focus on collecting repayments and providing support and training. As we recruit more Field Partners, we hope to manage this on an ad-hoc basis without impacting on your lending experience.

In what circumstances would you write off a loan?

A loan can be written off for several reasons (see note above). If repayments have fallen behind we can agree to give the entrepreneur or Field Partner a further six months to repay. Once those six months are passed, we then activate a process where Deki will try to recover the funds. This is usually a repayment plan schedule over a 12 month period, so that we can clear any outstanding debt with the entrepreneur or Field Partner in a reasonable period of time. If the entrepreneur fail to make their first three or four payments, we will then start the process to write off the loan. At this point, we will have determined that collection of the funds is doubtful. When we make the decision to write off a loan, we will always make sure we have exhausted all other options first.

I have received notification that my loan has been written off? Why has this happened?

Under our terms and conditions Deki may have to default a loan if we determine that collection of funds is doubtful, or a repayment of the loan is six months past the originally scheduled repayment date (for any expected repayment).

Does the entrepreneur receive 100% of their loan request?

Yes, the entrepreneur gets 100% of the money they requested, no charges will be deducted from the loan.

How does microfinance help fight poverty?

In right circumstances microfinance is a very powerful tool in helping people who live in poverty or earn a low income. It provides them with capital to start or expand their business and is more secure and sustainable than many aid projects. Microfinance clients are usually self-employed micro-entrepreneurs who typically operate small businesses such as food shops, market stalls, repairs services, clothes making or agriculture related activities. Microfinance is not appropriate for the extremely poor who struggle with their basic needs such as food or shelter. They will benefit from grants and there are other charities that focus on helping them. Go to microfinance page to find out more.

Who bears the exchange rate risk?

Loans by you are ultimately provided to entrepreneurs in local currencies. Similarly, repayments to you are translated back into British Pounds using the prevailing exchange rate. Deki will cover any minor fluctuations and at different times this could work for or against Deki. Any money made by Deki will be used to enable us to reach more entrepreneurs. However, if there is a major loss due to currency fluctuation Deki may be forced to pass this on to the lender. Therefore due to fluctuations in exchange rates, repayments may be less than scheduled. Read more in our Terms of Use.

Do I have to donate to Deki to use the website?

No, donations to Deki are entirely voluntary. We are very grateful for any donations you can make as Deki is a charity and charges no commission or interest on the loans. A lot of the work is done by volunteers. Your donation will help us keep the website going and expand into other areas where people’s lives can be changed with microloans.

Where do my donations go?

Deki is a charity and charges no commission or interest on the loans. Your donations will help us keep the website running and offer better support to our field partners so that we can make loans to a greater number of entrepreneurs. Donations will also help us expand into other countries where access to microfinance and training can make an enormous difference to people’s lives.

How else can I get involved?

There are several ways to get involved! First off, connect with us via Facebook and Twitter and help us spread the word. If you have a business, get in touch to ask about a business account. You can spread the word about Deki or nominate us as your company charity. If you work with schools we have a schools package offering fun and engaging ways to teach about international development and poverty.