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.