Re-funded

The term 're-funded' refers to the act of returning money to an individual or organization that has previously spent or invested it, often in the context of a financial transaction, loan, or investment. This action can occur due to various reasons, such as the cancellation of a service, the failure of a product, or a successful application for reimbursement. Re-funding ensures that individuals or companies recover their outlays, often adhering to pre-established guidelines or policies.

Re-funded meaning with examples

• The non-profit organization was struggling with the rising costs of its food bank program. Due to successful fundraising and the board's approval, they decided to re-funded their operational budget to cover the unexpected expenses, ensuring food security for those in need in the local community. This provided continuity of essential services and demonstrates financial stability.
• The homeowner discovered a significant error in their property tax assessment. After successfully appealing the decision, the local government re-funded a portion of the overpaid taxes to the homeowner. This process, mandated by law, corrects financial injustices and returns the correct amount of taxes, providing relief to taxpayers and ensuring fair treatment.
• After the successful pilot program, the research initiative required more resources to fully implement the findings. The grant agency made a decision to re-funded the research project with a substantial follow-up grant. The re-funding allowed the scientists to expand their scope and pursue further investigation into the subject matter, supporting scientific advancement.
• The small business owner, faced with an unexpected economic downturn and delayed customer payments, needed extra funds to avoid closure. After securing a new loan and restructuring their existing debt, the bank re-funded the business's operating account. This enabled the business to meet immediate obligations and gave it a chance to recover and adapt, safeguarding employment.
• After reviewing the complaint regarding the defective product, the company decided to issue a re-fund. This decision was met with approval from the customer, who felt that their concerns were taken seriously. The re-fund not only restored the customer's faith in the company's commitment to quality but also demonstrated the company's willingness to correct wrongs, ensuring a continued relationship with its clientele.
• The travel agency announced that due to the global pandemic, all tickets for canceled flights would be re-funded. Customers who had made travel plans were understandably anxious but relieved to hear that they would be compensated for their expenses. The agency’s proactive approach helped mitigate frustrations, fostering trust and loyalty among clients in these trying times.
• Due to an accounting error, the client was notified that their initial deposit would be re-funded along with a small interest adjustment. This re-funding not only rectified the mistake but also maintained the integrity of the financial relationship. The client appreciated the transparency and efficiency of the process, which ultimately reinforced their decision to continue working with the firm.
• A community fundraiser aimed at providing financial support for local charities concluded with an impressive response. However, some donors chose to have their contributions re-funded after reconsideration. While this initially caused concern among organizers, they respected the wishes of each donor, understanding that flexibility in financial matters is crucial for maintaining trust and goodwill.