Transparency is a top priority for all loans CHOICE facilitates through its economic development programs. All loans are directly overseen by both the community and CHOICE staff through a loan committee. These committees are comprised of the local Rural Development Facilitator and at least five members of the local community. This committee keeps track of how much money is being raised in their community, and how it is allocated.
In-country CHOICE teams provide six and twelve month summary reports of work of the committee documenting:
- How villager funds were used
- The number and types of enterprises funded
- The number of loans given, those current in their repayment, and the number of loans repaid.
As the Collective Collateral pool grows from interest and loan repayment it becomes a perpetual fund for future enterprise development. The recycling of this fund, as well as its growth, are critical drivers of poverty alleviation in the villages CHOICE works with.