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Khachatur found a means to earn his living by selling vegetables and different types of home products to local customers. He lives in Gyumri town with his parents and sister and is running his business. Khachatur, by his car, goes from village to village and provides the products that he sells. Due to the fact that the products Khachatur sells are fresh and have good quality, people in the community always buy their products from Khachatur.

In order to purchase supplies for selling (vegetables and other products), Khachatur has 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. Khachatur 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. So, this loan will be a good improvement in Khachatur’s life, as he will be able to continue his business and will ensure better life for his family.

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

  • $6,300
    Average annual income
  • 155
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 410.5
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Khachatur to pay for vegetables and other supplies for selling to customers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 2, 2013
Aug 16, 2013
Currency Exchange Loss:
Sep 17, 2015