Now, in order to create comfortable conditions and meet her clients' needs, Mariam needs financial support to buy new supplies. Mariam has requested a loan from local financial institutions several times but without any success. Her loan requests are rejected every time because her business isn't registered as a formal business. Mariam 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.
Mariam hopes that Kiva lenders will help her to continue her small business which brings income to her family.
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