1. What exactly is the current financing situation?
We have a 3 year balloon loan, basically a land contract with the owner of the house. She is a Thai Christian woman who is married to a German man. They are building a house in Germany and 3 years ago they really wanted the money for the house up front. She graciously gave us the 3 years to pay off the $150,000 loan, paying $1000/month, which we, The Champion Project, have covered the past 3 years.
2. Can you ask the owner for an extension?
Can we ask? Yes. They already were stretching their generosity with the price and giving us 3 years to pay off the loan. This is not a likely option at this time.
My personal hope is that if we can raise a majority of the money that is due, they can give us a few more months to find the rest. This is why every dollar is greatly appreciated and needed.
3. What are the financing options?
The Champion Project cannot finance anything in Thailand because we won’t have any assets or collateral.
The Piyawat Orphanage is pursuing financing options. 3 years ago they applied for a $150,000 loan for the property and were declined because they had no income. We’re hoping that because they have the shoe business now and the amount is smaller $80,000 that they can get some financing.
This is NOT guaranteed. We are moving forward as if we cannot get any financing because our due date is so soon. Any donation given will be given directly to the owner of the house to put towards what is due.
4. How have you been pursuing a solution the past 3 years?
In 2019 we started the balloon loan with a down payment of $30,000. We raised $15,000 and the family financed $15,000. We started paying around $800-1000/month (30,000 baht — depending on the exchange rate).
In 2020 we built up the property, added on, drilled a well, and renovated and raised the $20,000 needed for this. The family moved in and we continued paying the monthly amount.
In 2021 we paid off the rest of the family’s down payment debt of $10,000 and then raised around $10,000 more during our Annual Gala Fundraiser and continued paying the monthly amount.
In 2022 we raised around $10,000 during the Annual Gala Fundraiser and continued paying the monthly amount.
5. How did the donation fall through in November?
We received a promise of a $40,000 donation in November from a church that we know and love. They had some turnover in leadership and our need was greatly miscommunicated. They are currently unable to meet that need.
We received a low interest loan of $40,000 from a personal investor through a missions organization we know well. There was miscommunication that happened on their end and that investor is no longer able to loan us that amount.
6. What happens to the kids and the money donated if this all falls through?
We are a 501(c)3 so if our program dissolves all of our assets must be given to another 501(c)3, and the same applies to the Piyawat Orphanage.
Most of our kids cannot go home. Many are orphans, have been abandoned and don’t know where their parents are located. Some have gone home to visit to find empty houses and neighbors not knowing where they have gone. This is probably 50% of our children.
Many of our younger kids could technically go home. There are no schools in the villages so their education would be over. They would be in extreme poverty where opium is given to children to curb hunger, abuse is daily and food is scarce.
Our older boys would also not be able to continue studying. Our boys have good solid foundations in their faith, but every teenage boy does drugs, abuses alcohol, and typically gets married as young as 15. Kids are unattended during the day, so they can get into dangerous situations and many have died drowning in rivers or motorcycle accidents.
Our older girls will probably be the ones that absolutely cannot return to their villages. Not only will their educations be over, but our girls are at serious risk for rape, abuse, and kidnapping. Girls 13+ can be kidnapped from their home, and if they cross the threshold of a man’s house (any age) she is forced to marry him. This can also lead to trafficking situations. Our girls have been well nourished for the past 5+ years so they are much more physically developed than most girls in the villages so they are prime targets for these crimes.
This will also leave the family of 4 (Mom, Dad, oldest daughter, youngest daughter) homeless. This family that has given everything that they have for almost two decades would be without a home, cars, or their shoe business. This is not how I hoped to thank them after all the years they have spent selflessly loving these children.
All of this to say, any donation amount is greatly appreciated, and please contact us if you have any personal financing solutions. These children CANNOT go home, because there is no home.
I greatly appreciate you prayerfully considering giving towards this cause.
- ALEXANDRIA KANE