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Metaqsya
Metaqsya is a baker from Gyumri town. She bakes bread and cookies in her house and her husband sells her products to local shops. Metaqsya is a very hard-working mother of three children. Together with her husband, she does her best to ensure a better life for their children.

As a traditional Armenian woman, Metqasya bakes with great love and care thus her cookies and bread are well known among locals. Now, this diligent woman needs some financial support to purchase a stove. The old one that she owns is very old and it is very difficult for Metaqsya to bake products.

Metaqsya requested a loan from local financial institutions several times, but without any success. Her loan request was rejected every time because her business isn't registered as a formal business. She 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.

Thus, the support of Kiva lenders is very important for Metaqsya to purchase a new stove and continue the production of her tasty cookies.

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
  • 124
    View loans »
    Armenia Loans Fundraising
  • $12,836,550
    Funds lent in using Kiva
  • 410.6
    Armenia Drams (AMD) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,350 helped Metaqsya to pay for a stove for making cookies.
98% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 31, 2013
Listed
Aug 13, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 19, 2015