Gayane requested a loan from local financial institutions several times to purchase supplies she needs for her work, but without any success. Her loan requests were rejected every time because her business isn't registered as a formal business. Gayane 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 informal businesses that do not have access to credit products with start-up loans with soft conditions. This new initiative will significantly improve Gayane's teaching conditions, as she will be able to purchase technical supplies for kids (computer, clipboard).
Gayane will be very grateful to Kiva lenders for their support. The loan is important for her to improve her work, which is very important to society.
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 InternationalSEF’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.
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Success!! The loan was 100% repaid