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.
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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