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?
- 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.
- Select who you’d like to support and how much to lend from the drop-down menu. Click ‘Lend Now’.
- To support another entrepreneur – click ‘View more entrepreneurs’.
- View your Basket: here you can change your loan amount, remove an entrepreneur and add/edit an optional donation to Deki.
- 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.
- 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:
- Re-lend funds – if you have less than £10 credit you can always top-up.
- Donate the repaid amount to Deki.
- Withdraw the funds
How do I deposit funds into my account and lend them later?
- Sign into your Deki Account.
- Click ‘My Account’.
- 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.
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.
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 until I get my money back?
Most Deki loans are repaid within 12 months.
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.
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.
Why does Deki only feature lenders from Ghana, Malawi, South Sudan, South Africa, Togo, and Uganda?
We are a young charity and currently we only have field partners in these countries. We select our field partners carefully to ensure that we reach the people most in need (i.e. people who don’t have access to bank loans) and that additional support such as business advice and training is provided. We are in the process of getting more field partners on board so there will be entrepreneurs from other countries soon.
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?
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.
Team Lending FAQs
What is team lending?
Deki lending teams are self-organised groups bringing people together under a shared vision or a lending goal.
Deki Team lending lets you team up with others to lend together. Anyone can start a new team and invite others to join or join an existing team.
When you make a loan, you still lend from your Deki account – and will get repaid onto your account – but you also have an option to attribute it to the team that you are part of. Each team has a loan total made up of the loans team members have lent on behalf of the team.
You can create a team for your office, school, university club, group of friends, as a wedding list, for your nationality, etc.
Your team can be open, which means that everyone will be welcome to join in or closed, in which case only you can decide who joins the team.
Why would I want to lend in a team?
Because it’s fun! Teams allow people to join together under a shared vision and even hold friendly competitions. You can create a Team for your office, school, university club, group of friends, as a wedding list, for your nationality, etc.
How do I create a team?
Creating a team only takes seconds. First, sign in to your Deki account. If you don’t have one yet, you can register here – this is also a quick and easy process. Once you’re in your account, click on ‘New Team’ button on the green menu bar and follow the simple steps.
Can I join more than one team?
Yes, you can join and create as many teams as you like. When you make a loan you must select the team to attribute that loan to on the checkout page.
I made a loan but it hasn’t been assigned to my team. Is there a time delay?
Before you choose your loan recipient make sure you are logged in to your Deki account. After you have chosen who to lend to you will need to choose the team name from the dropdown list, which you will see on the check-out page. Once you have made the loan it should appear under your chosen team immediately, there is no time delay. If you don’t choose the team your loan will not be assigned to any of the teams but will just be a regular loan made by you.
How do I invite people to join my team?
Once you’ve created your team you will see a link ‘Invite people to join this team’, which will make the process very easy. You will simply enter people’s email addresses and they will get an email saying that you have created a team and you would love them to join.
Who will get repayments if I lend through a team?
When you make a loan, you still lend from your Deki account – and will get repaid onto your Deki account. Each team has a loan total made up of the loans team members have lent on behalf of the team, but in a way that is not ‘real’ money, as ‘real’ money only exists on individuals’ accounts.
Can I stop people joining my team if I don’t know them?
Yes, but in order to do this your team must be set as ‘Closed’. In case of a closed team only the administrator (you – if you created the team) can decide who can join the team.
If your team is set as ‘Open’ anyone who has a Deki lender’s account can join your team and start lending immediately.
You can change the setting of your team in ‘My Account’ page as you log in to your Deki account.
How can I see who else is in my team?
Go to the teams page. As you click on a team you will see a ‘Team Lenders’ section – you will see as little or as much about the other team lenders as they have chosen to reveal in their profile.
Can I attribute my loans to more than one team?
You can attribute different loans to different teams but only one at a time. You cannot attribute one loan to two different teams.
We are an organisation who has raised money for Deki, do we need to create a team in order to lend?
If you just want to lend a lump sum of money there is no need to set up a team. Instead you can register a Deki account and use the first and last name fields for your organisation’s name. But if you also want to invite staff, customers, etc to make a loan on behalf of your organisation you can also create a team account in the same name.
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Have another question? Please contact us.