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


Status update - July 19, 2023


Kiva has moved Fundación Santo Domingo to inactive status, which means FSD is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. FSD has decided to shut down its microfinance program at the beginning of the year and to collect on all outstanding loans till the end of 2024. Kiva and FSD have agreed on a payment plan which will make all Kiva lenders whole minus any currency fluctuation that occurs between now and the end of 2024. Repayments should be made every 6 months back to Kiva and will be immediately settled back to lenders.


June 9, 2020 - COVID-19 Update:

Kiva has been in contact with Fundación Santo Domingo to understand how we can best support their business and borrowers during the ever-evolving COVID-19 pandemic. We continue to prioritize the safety and well-being of all staff, borrowers and their families as this global pandemic continues.

While country-specific responses to the crisis vary, most governments have imposed curfews, travel restrictions, and nation-wide shutdowns. Colombia has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole. 

As a result, borrowers and Fundación Santo Domingo may experience difficulty making and collecting loan repayments due to the aforementioned restrictions or fallout effects of the virus. Over the coming months, it’s possible that lenders will see a delay in repayments and new loans posted by Fundación Santo Domingo. As an impact-first funder, Kiva is committed to serving our Lending Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Lending Partners and borrower communities recover. 

Kiva is working closely with Fundación Santo Domingo to support them and their borrowers through the COVID-19 crisis. Fundación Santo Domingo is sending regular updates to Kiva, and we'll update Partner Pages as we learn more. 

On behalf of Kiva and Fundación Santo Domingo, we’re grateful for your continued support through this difficult time. 

Partner Description: 


Fundación Santo Domingo -FSD is a non-profit organization in northern Colombia dedicated to developing programs for the country’s poorest communities. In addition to numerous social services, FSD 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.


FSD 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, FSD 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 FSD. 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, FSD’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.


FSD's unique lending approach: 


FSD 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, FSD offers administrative consulting. Staff members work directly with entrepreneurs to develop business plans. To date, FSD has helped nearly 50,000 people improve their lives through business, housing, health, education and community initiatives.


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


Status Update - November 9, 2010


Kiva recently conducted on-site monitoring at FSD 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 Lending Partner All Kiva Partners
  Start Date On Kiva Dec 19, 2009 Oct 12, 2005
Total Loans $10,294,510 $1,958,818,855
Amount of raised Inactive loans $0 $250,565
Number of raised Inactive loans 0 237
Amount of Paying Back Loans $743,535 $161,326,725
Number of Paying Back Loans 1,055 188,875
Amount of Ended Loans $9,550,975 $1,768,237,830
Number of Ended Loans 15,741 2,370,066
Delinquency Rate 47.98% 12.18%
Amount in Arrears $106,741 $12,199,756
Outstanding Portfolio $234,275 $100,189,739
Number of Loans Delinquent 1,016 72,764
Default Rate 12.02% 1.83%
Amount of Ended Loans Defaulted $1,148,467 $32,304,134
Number of Ended Loans Defaulted 3,290 84,789
Currency Exchange Loss Rate 2.08% 0.50%
Amount of Currency Exchange Loss $239,452 $11,980,628
Refund Rate 0.20% 0.54%
Amount of Refunded Loans $21,050 $10,526,300
Number of Refunded Loans 27 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 64.24% 78.23%
Average Loan Size $613 $392
Average Individual Loan Size $613 $589
Average Group Loan Size $0 $1,891
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $11,100 $5,599
Average Loan Size / GDP per capita (PPP) 5.52% 7.00%
Average Time to Fund a Loan 17.5 days 8.93 days
Average Dollars Raised Per Day Per Loan $35.04 $43.86
  Average Loan Term 16.45 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 4,921 1,178,627
  Journaling Rate 26.36% 42.26%
  Average Number of Comments Per Journal 0.04 0.02
  Average Number of Recommendations Per Journal 0.05 0.57

Borrowing Cost Comparison (based on 2016 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 40% PY 32.00% PY 27.02% PY
  Profitability (return on assets) 0.24% 5.1% -3.10%
  Average Loan Size (% of per capita income) N/A 23.00% 0.00%

Country Fast Facts

Lending Partner Staff

KATHERINE ARRIETA
Angy Bayuelo
Lily Casalins Rachath
CARLOS MARIO DOMINGUEZ EBRATT
Claudia Fontalvo Peñaranda
Jorge Andrés González Madrid
Fabian Guerrero
Armando Julio
Robin Eduardo Julio Salas
evelyn martinez ramirez
Laura Navarro Macias
Dayana Ospino
Ildefonso Palmera
Edwar Patiño
Liney del Rosario Peña Cabrales
Rodrigo Retamozo Melgarejo
isamar rodriguez