Fundación Mario Santo Domingo

Data provided through FMSD

Gross Loan Portfolio USD, 2011: 7.6 million

Number of active borrowers 2011: 6,116

Average loan balance per borrower USD, 2011: 1,237.8

Deposits USD, 2011: 0.0

Assets USD, 2011: 237.0 million

Number of depositors 2011: 0

Mission:

FMSD is a private nonprofit organization dedicated to developing programs for the poorest sections of the population.

Background and Main Challenges:

Mario Santo Domingo, a successful entrepreneur in the city of Barranquilla, established the foundation in 1960. Originally named La Fundación Barranquilla, the foundation supported educational institutes and other organizations dedicated to philanthropic work. A change came in 1989, when the ... Read more

Address:

Carrera 45 #34-01, Segundo Piso

Barranquilla

Colombia

Phone:

(575) 372-3082

Fax:

(575) 351-3861

Email:

info [at] fmsd [dot] org [dot] co

Website:

www.fmsd.org.co

Main Funding Sources:

Grants

Loans

Products and Services:

Loans

Products:

Individual and group loans and complementary non financial services

Services Provided:

Business Development Services

Health

Education

Other

Looking for (Investment Types):

Loans in Local Currency

Donations

% Operations Comprised by MF:

51 - 60

Date established:

Jan 1 1960

FYE:

31-Dec

Current Legal Status:

NGO

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Other target market:	1
Clients living in urban areas	2
Women	3
Adolescents and youth (below 18)	4
Clients living in rural areas	5
Int msg targetmothertext c	Propietarios de micro y pequeñas empresas, trabajadores asalariados o independientes beneficiarios del subsidio de vivienda, población vulnerable.
+ Development goals (ranked by importance)
Poverty reduction	1
Increased access to financial services	2
Housing	3
Other development objective:	4
Growth of existing businesses	5
Children's schooling	6
Youth opportunities	7
Employment generation	8
Improvement of adult education	9
Gender equality and women's empowerment	10
Int msg devobjothertext c	Organización social y convivencia de comundades.
+ Poverty targets
Poor clients	1
Low income clients	1
+ Governance
Has trained members of its board on social performance management
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises	1
SME loans
Loans for agriculture	1
Loans for education	1
Housing loans	1
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance	1
Other compulsory insurance required:	1
Int ps offerinsuranceothertextcompulsory c	Seguro a todo riesgo.
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
Enterprise skills development	1
Business development services	1
+ Education services offered
Financial literacy education	1
Basic health/nutrition education	1
Child and youth education	1
Occupational safety and health in the workplace education	1
Other education services offered:	1
Int ps nonfinsvcedothertext c	Formaciòn para el crecimiento personal, familiar y empresarial.
+ Health services offered
Basic medical services	1
Other health services offered:	1
Int ps nonfinsvchealthothertext c	Campañas de salud de primer nivel; cirugias.
+ Women's empowerment services offered
Other women's empowerment services offered:	1
Int ps nonfinsvcwomenempothertext c	La capacitaciòn empresarial tiene un enfoque pedagògico y metodologico fundamentado en la igualdad de gènero integrada a los contextos personal, familiar y empresarial.
+ Products and services targeting the poor
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution trains/educates clients regarding environmental improvements
+ Poverty measurement tools in use
Clientes ubicados en los niveles 1 y 2 del SISBEN, estratificaciòn de barrios.