Loan Use

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Defaulted loans

The MFI Partner is required to submit 1 journal for each loan in defaulted status, no later than 5 business days after the loan enters defaulted status.

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Error in Borrower Profile

If a Borrower Profile is in Fundraising or Paying back status or has been fully funded and Kiva or the MFI Partner thereafter realizes that there has been an error in the Borrower Profile (i.e., clerical error, incorrect photo or video, name/activity correction, or otherwise), a journal must be posted within 5 business days by either the FSS or the partner to explain the discrepancy. Kiva will determine if lenders' funds need to be refunded.

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Ended loans

Partners are required to post a journal with in 30 days of a Borrower finishing payments to the MFI.
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Expired

If a loan is not fully funded within 30 days of being in the Fundraising status, the listing expires. If a loan stays in the Inactive, "Issue", and/or "Reviewed" status for more than 40 days, it will expire. Expired loans are removed from the website, if applicable.

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Defaulted

Loans will be defaulted by Kiva at the earliest of: 1) the time when MFI determines that collection of funds from a borrower is doubtful or Kiva determines that collections from the MFI Partner are doubtful; 2) 6 months past the originally scheduled repayment date. This applies to any expected repayment, not just the final payment due at the end of the loan term; or 3) Once the borrower is 6 months delinquent - meaning that payments made by the borrower over the past 6 months are not yet equal to the expected amount as of 6 months earlier.

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Refunded

A loan is refunded to Kiva Lenders due to administrative errors or data accuracy issues with the loan. All funds raised through the website for that loan are returned to Kiva lenders.

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Ended

When a loan has been fully repaid (i.e., is no longer Paying back) and the partner has sent full payment to Kiva, the loan will move to this category and remain there indefinitely.
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Paying Back

A loan moves to this category when it has been disbursed. It remains here throughout the loan term, until it has been completely repaid by the Kiva Borrower, or it is marked as defaulted or refunded.
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Raised

A loan automatically moves to this category when it has been 100% funded. It appears on the Kiva website in the Raised category. It remains there until the Disbursement date reported by the MFI Partner during the initial loan posting has passed.

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