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.
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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.