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Garnik A. is 38 years old and married with two children. He is the family’s main breadwinner. His wife takes care of their two young children. The family lives with Garnik’s parents.

Garnik owns an internet club and DVD rental shop. The big demand for information exchange in Armenia is being hampered by high internet costs and low internet penetration. Only 7% of the population are internet users. Therefore internet clubs are highly popular in Armenia, giving internet access to the large number of people who don’t have permanent access to the internet.

Garnik has been in this business since 2005. He rents the club’s premises in one of the busy streets of the capital city, Yerevan. Currently there are 10 computers with internet access in the club. Taking into consideration the large demand for more desks, Garnik has applied for the loan to purchase 5 more computers and desks.

Additional Information

About SEF International

SEF’s mission is to extend business development and financial services to emerging entrepreneurs in search of productive opportunities to support their families and communities and to build bright futures for children in Armenia.

About Armenia

  • $6,300
    Average annual income
  • 124
    View loans »
    Armenia Loans Fundraising
  • $14,083,350
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Garnik to purchase computers and computer desks.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 1, 2010
Jul 1, 2010
Currency Exchange Loss:
Aug 15, 2011