Loans that runs out of time,partially funded,what happens to them

[Guest]

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[greybuffalo]

I just  loaned to 5 people in Lebanon,who had just hours to go for their funding to be completed,as I was only allowed to loan $25 each,it appears they will not achieve full funding in time.
My question is what happens to the fund s they have raised so far?? do they receive the incomplete funding?

[Brennan]

From the Late Loaning Lenders FAQ thread:

1.5 What happens to money already lent when a loan expires? Is the loan partially funded?

When a loan expires, every lender who has supported it receives an e-mail notification and a refund. The Field Partner does not receive the funding it had expected for that loan. There is no mechanism on Kiva to provide partial funding for an expired loan.

It is still possible that the loan could be funded though.

[David2051]

I just  loaned to 5 people in Lebanon,who had just hours to go for their funding to be completed,as I was only allowed to loan $25 each,it appears they will not achieve full funding in time.
My question is what happens to the fund s they have raised so far?? do they receive the incomplete funding?

I'm not sure exactly what you meant about only being allowed to loan $25 each.  Kiva would allow you to loan as much as you like.  On the lend page there is only the orange Lend $25 button, but if you go to the individual loan page there is also a drop down button under the text "Select amount to lend" where you can choose from a limited range of values.  Also, once the loan is in your basket there is a drop down button where you can choose to lend anything from $25 all the way up to the total amount needed.

The answer to your question though is that they do not receive partial funding.  If they don't reach the full amount your $25 loans will be refunded to you so you can lend to another borrower.  I hope that helps. 

[eileen]

In most cases, loans are predisbursed by the Field Partner, so if a loan does not get funded on Kiva, the borrower does not lose anything, because the Field Partner has already made the loan to him or her. The problem is that the Field Partner will not get the funding to cover the loan, and this may impact their ability to make future loans.

Some Kiva lenders have joined together in a team called the Late Loaning Lenders team  to fund loans that are close to expiring. We loan together to boost the late loans to the front page, where they will be more likely to be noticed by other lenders and fully funded. We'd be glad to have you join us!