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Ashot is from Vanadzor town and lives with his sister. Their parents live and work abroad to help support their children financially.
Ashot is involved in providing tourism services for local customers. Ashot has agreements with four hotels in neighboring countries and is providing different options for locals to spend their vacations outside Armenia. To develop his start-up business, Ashot has requested a loan from local financial institutions several times but without any success. His loan request was rejected each time because his business isn't registered as a formal business. Ashot has now been approved for a loan within the framework of a new joint initiative between Kiva and SEF international. The start-up loan program provides business start-up loans with soft conditions to informal businesses that do not have access to credit products. This loan is very important for Ashot to purchase needed supplies for his work, which will make his business run easier and faster.

Additional Information

More information about this loan

This loan is part of SEF's startup pilot project to benefit borrowers working in Armenia's non-formal business sector. By providing working capital to artists, auto mechanics, bakers, furniture makers, construction workers and other informal entrepreneurs, SEF aims to help them formalize their businesses, increase their incomes, and build brighter futures.

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

  • $6,400
    Average annual income
  • 87
    View loans »
    Armenia Loans Fundraising
  • $12,645,800
    Funds lent in using Kiva
  • 410.8
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,225 helped Ashot to pay for equipment needed for his business.
70% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jul 24, 2013
Aug 5, 2013
Currency Exchange Loss: