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Two years ago, Ayda, a 57-year-old woman, joyfully retired and the company where she worked gave her a pension. Being a very active woman, she decided not to stand idly by (unoccupied) so she started her business with her savings. She now sells clothes, women's accessories, and household accessories, among other items of interest to families. Ayda works 12 hours every day to improve her family's quality of life, which consists of her spouse and their 3 children, ages 19, 28, and 32. Her greatest challenge is obtaining financing in order to improve her business's image and increase her inventory. This is why she is requesting a Credikiva, the first loan she's had from Fundación Mario Santo Domingo, to buy clothes and accessories to increase the items she offers and improve her business with this loan.
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Hace 2 años Ayda, mujer de 57 años de edad, llegó a su retiro jubiloso y la empresa donde trabajaba la pensionó; ella mujer muy activa, decidió no quedarse con los brazos cruzados (desocupada) y por eso emprendió su negocio con sus ahorros, mediante el cual hoy comercializa ropa, accesorios femeninos y para el hogar, entre otros artículos de interés de las familias. Ayda trabaja 12 horas diarias, para aumentar cada vez más la calidad de vida de su familia, conformada por su cónyuge y sus 3 hijos en las edades de 19, 28 y 32 años. Su mayor desafío es lograr fuentes de financiación, para mejorar la imagen de su negocio, incrementando sus inventarios. Esta es la razón por la cual acude a un credikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, para comprar ropa y accesorios que incrementen su oferta, y lograr mejorar con este crédito las condiciones de su negocio.

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

  • $11,100
    Average annual income
  • 353
    View loans »
    Colombia Loans Fundraising
  • $18,296,125
    Funds lent in using Kiva
  • 1,884.8
    Colombia Pesos (COP) = $1 USD
A loan of $675 helped Ayda to buy clothes and accessories.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 18, 2014
Aug 23, 2014
Currency Exchange Loss:
Sep 22, 2014