Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Partner Description:

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.

FMSD is quickly becoming a national leader in development programs by offering financial support and training for micro and small-business owners in Colombia. The organization goes above and beyond by providing comprehensive development programs where they are needed most. 



Founded in 1960, FMSD created its first micro-enterprise program in 1984 in the city of Barranquilla. It was so popular that it expanded to Cartagena, Bogotá and Isla de Barú during the 1990s. Today, this program supports the entrepreneurial goals of single mothers, young people, rural workers, shopkeepers, former inmates, the elderly, artisans, displaced populations, fishermen, solidarity groups and many more.

But success isn’t just about credit at FMSD. That’s why the organization has kicked off a number of other initiatives to give borrowers all the support they need to thrive. For example, in 1987, it created a community development program to help local families build new houses for themselves. Thanks to this program, more than 50,000 Colombians living along the Caribbean coast have been able to improve their living conditions.

For the last 15 years, FMSD’s training department has offered “management dialogue” courses for micro-entrepreneurs. In 2001, it teamed up with Accion International, USAID and the Corporation for the Development of Micro-enterprises to host regional and national events for small and micro-business owners to learn about marketing strategies.



FMSD’s unique lending approach:

FMSD offers microfinance services through satellite offices called Customer Service Centers (CAUs). These centers are located near the local communities they serve and provide both financial and non-financial services. Small businesses can access loans for working capital, to buy fixed assets, afford new technologies, go back to school or improve their housing. Kiva lenders’ funds help make this possible.

At the same time, borrowers can tap into training to strengthen their business operations in terms of organization, marketing, technology, etc. Additionally, FMSD offers administrative consulting. Staff members work directly with entrepreneurs to develop business plans. To date, FMSD has helped nearly 50,000 people improve their lives through business, housing, health, education and community initiatives.

Want to get more involved with FMSD? Join the Friends of FMSD lending team on Kiva.



Images courtesy of FMSD.

Status Update - November 9, 2010

Kiva recently conducted on-site monitoring at FMSD in order to re-assess the level of risk posed by the institution. The analysts found that some of the components that Kiva looks at during our due-diligence process did not merit a 4-star rating. The organization’s rating has been adjusted to 3 stars.

 

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 19, 2009 Oct 12, 2005
Total Loans $3,085,900 $605,692,300
Amount of raised Inactive loans $0 $556,050
Number of raised Inactive loans 0 462
Amount of Paying Back Loans $381,050 $120,357,850
Number of Paying Back Loans 470 129,783
Amount of Ended Loans $2,704,850 $484,778,400
Number of Ended Loans 3,620 612,884
Delinquency Rate 1.28% 4.05%
Amount in Arrears $3,062 $3,183,813
Outstanding Portfolio $240,095 $78,590,312
Number of loanDelinquent 37 13,778
Default Rate 0.03% 1.11%
Amount of Ended Loans Defaulted $734 $5,357,098
Amount of Ended Loans $2,704,850 $484,778,400
Number of Ended Loans Defaulted 1 16,819
Currency Exchange Loss Rate 0.05% 0.09%
Amount of Currency Exchange Loss $1,660 $572,888
Refund Rate 0.27% 0.75%
Amount of Refunded Loans $8,425 $4,553,925
Number of Refunded Loans 10 5,085

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 71.41% 74.22%
Average Loan Size $755 $419
Average Individual Loan Size $755 $656
Average Group Loan Size $0 $1,830
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $6,070 $3,424
Average Loan Size / GDP per capita (PPP) 12.43% 12.23%
Average Time to Fund a Loan 10.77 days 5.7 days
Average Dollars Raised Per Day Per Loan $70.06 $73.42
  Average Loan Term 12.61 months 10.4 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 2,263 302,242
  Journaling Rate 49.88% 42.38%
  Average Number of Comments Per Journal 0.04 0.08
  Average Number of Recommendations Per Journal 0.06 1.83

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 23% PY 32.00% PY 33.28% PY
  Profitability (return on assets) 0.3% 5.1% -1.42%
  Average Loan Size (% of per capita income) 20.50% 23.00% 38.08%

Country Fast Facts

Field Partner Staff

Enrique Álvarez
Alex Amaríz
José Alberto Bedoya
Lily Casalins Rachath
Cesar Charris
Luis Diaz
Arturo Martinez
Fred Meriño
Genny Morales
Mario Moreno
Jose Luis Pacheco
Liney del Rosario Peña Cabrales
Auris Perez
Jose Luis Perez
Liliana Rincon
Wendy Rosania
Milgen Sanchez
Haider Santiago
Juan Carlos Sarabia
Jaime Solano
Jose Tapias
Maria Zapata