By the Numbers
By the Numbers — Financial Control
The Microcredit team in Sri Lanka keeps meticulous records of all loan transactions, statistics and demographics of borrowers. These details are sent to the Vancouver business team every month for analysis and review. The program undergoes an independent evaluation every year by a microcredit expert and is annually audited. The reviews have been very positive and the results speak for themselves.
From the graphs it can be seen that the program membership has increased steadily, reaching 1000 members by 2009. The loan repayments rates are consistently high and keeping pace with the loans issued, and there is a net operating surplus.
As of Q1 2011, indicators of self- sufficiency of the microcredit are becoming clear with loans repaid for the first time exceeding loans issued. This trend will become more pronounced as the microcredit fund becomes self-perpetuating, growing to the extent that it no longer needs external fundraising to allocate new loans.
Note: The charts on this page are streamed from a Google Docs Spreadsheet. If they are not visible or broken it means that Google is temporarily having issues.