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Artashes
Artashes is from Armavir town where he lives with his wife, mother-in-law, and three children. He earns his family's living by providing electrician services to locals from the small cellar he rents near his house.

Artashes requested a loan from local financial institutions several times, but without any success. His loan request was rejected every time because his business isn't registered as a formal business. Artashes 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, this loan is very important for Artashes to purchase a generator and a piece of equipment specialized for his work so as to be able to provide better service to his customers.

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
  • 161
    View loans »
    Armenia Loans Fundraising
  • $13,185,300
    Funds lent in using Kiva
  • 410.5
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,475 helped Artashes to buy a generator and a piece of equipment specialized for his work.
79% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 1, 2013
Listed
Aug 14, 2013
Currency Exchange Loss:
Possible