Unfortunately Narek's car broke down a month ago and he wasn't able to repair it because of financial difficulties. He requested a loan from local financial institutions several times but his loan request was rejected every time because the business isn't registered as a formal business.
Narek 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. With this new initiative Narek is very motivated to repair his car, purchase tires and be able to continue his taxi business.
Narek waits for your support.
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