Last updated April 29, 2013

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.

Kiva HelpRepayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 19, 2009 Oct 12, 2005
Total Loans $2,859,900 $535,743,725
Amount of Raised Inactive Loans $0 $325,675
Number Of Raised Inactive Loans 0 364
Amount of Paying Back Loans $509,825 $108,847,475
Number Of Paying Back Loans 580 112,638
Amount of Ended Loans $2,350,075 $426,570,575
Number Of Ended Loans 3,204 548,146
Delinquency Rate 7.74% 3.61%
Amount In Arrears $19,893 $2,527,996
Outstanding Portfolio $257,061 $70,107,758
Number of Loans Delinquent 141 12,066
Default Rate 0.03% 1.02%
Amount of Ended Loans Defaulted $734 $4,346,140
Amount of Ended Loans $2,350,075 $426,570,575
Number Of Ended Loans Defaulted 1 14,095
Currency Exchange Loss Rate 0.05% 0.05%
Amount of Currency Exchange Loss $1,552 $294,028
Refund Rate 0.29% 0.82%
Amount of Refunded Loans $8,425 $4,415,650
Number Of Refunded Loans 10 4,862

Kiva HelpLoan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans To Women Entrepreneurs 71.55% 74.09%
Average Loan Size $756 $417
Average Individual Loan Size $756 $655
Average Group Loan Size $0 $1,810
Average Number Of Entrepreneurs Per Group 0 8
Average GDP Per Capita (PPP) in Local Country $6,070 $3,463
Average Loan Size / GDP Per Capita (PPP) 12.46% 12.04%
Average Time To Fund A Loan 10.34 days 5.27 days
Average Dollars Raised Per Day Per Loan $73.12 $79.14
  Average Loan Term 12.5 months 10.04 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 2,166 268,352
  Journaling Rate 52.56% 42.14%
  Average Number Of Comments Per Journal 0.04 0.09
  Average Number Of Recommendations Per Journal 0.06 2.06

Kiva HelpBorrowing Cost Comparison (based on 2011 data)

    This Field Partner Median for MFI Peers in Country All Kiva Partners
  Portfolio Yield 18.10% 22.20% 34.93%
  Profitability (Return on Assets) -3.6% 3.2% -1.11%
  Average Loan Size (% of Per Capita Income) 20.50% 22.30% 42.70%

Kiva HelpCountry 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
Wendy Rosania
Milgen Sanchez
Haider Santiago
Jaime Solano
Jose Tapias
Maria Zapata