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Fernando is 61 years old. He is married, and he is the father of three older children. Fernando has worked in a welding working since he was a young boy, and there he learned all of the technique he knows, and that inspired him to start his own business 30 years ago. Today Fernando is the owner of a paint and welding workshop, which offers prevention or maintenance and repair services in the city he lives in.

Fernando's daily workday is from 8am to 6pm, and he works toward achieving his future goals like creating jobs, improving his home, and accomplishing the ultimate goal of increasing his clientele. Currently, Fernando has taken the first step by requesting a loan, with which he plans to buy wholesale supplies such as welding and painting materials.

This is Fernando's first loan from Fundación Mario Santo Domingo, and he will use it to improve his business by earning a little more, because it allows him to buy in volume, thereby reducing his costs.
View original language description ↓
Fernando de 61 años de edad, hombre casado y padre de tres hijos mayores, desde muy niño trabajó en un taller de soldaduras y allí aprendió toda la técnica que hoy conoce y que hace 30 años lo impulsó a emprender su propio negocio. Hoy es propietario de un taller de soldadura y pintura, lo cual ofrece en el municipio donde habita mediante servicios de prevención o mantenimiento y reparación. Su día laboral inicia desde las 8 de la mañana hasta las 6 de la tarde, con el fin de logar metas futuras, como la de generar empleo y mejorar su vivienda, cumpliendo con su mayor desafío que no es otro que el de incrementar su clientela. En la actualidad ha dado el primer paso mediante la solicitud de un crédito, con el cual planea comprar al por mayor insumos como materiales de soldadura y pintura. Este es su primer financiamiento con la Fundación Mario Santo Domingo, mediante el cual mejorará su negocio ganado un poco mas porque le permite comprar en volumen, reduciendo de esta manera sus costos.

Additional Information

More information about this loan

This loan is part of an innovative partnership between Kiva Labs and Innovations for Poverty Action to evaluate how changes to the conditions of loans might improve the impact of microcredit on small businesses and the well-being of micro-entrepreneurs. Through this partnership, FMSD is testing new features for its small business loans: the design changes being tested include lower interest rates and more flexible repayment schedules aiming to encourage productive investments and to better match micro-entrepreneurs’ irregular income flows. As part of a randomized evaluation, this borrower may be offered one of these innovative loans. This is an exciting innovation and learning process for FMSD, but—like all innovators—it may face additional costs and potential risks in the process. Funding support from Kiva lenders is therefore particularly important to FMSD on this project.

About Fundación Mario Santo Domingo

Fundación Mario Santo Domingo (FMSD) is a non-profit organization in northern Colombia dedicated to developing programs for the country’s poorest communities. In addition to numerous social services, FMSD runs a microfinance program to strengthen micro-businesses in the areas where it works. The organization also offers several non-financial components as part of this program, including training to help entrepreneurs start their own businesses.


About Colombia

  • $6,070
    Average annual income
  • 182
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,887.5
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $550 helped Fernanado buy wholesale welding and painting supplies.
41% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 28, 2014
Aug 17, 2014
Currency Exchange Loss: