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Sasun
Sasun is from Kapan town, where he lives with his wife. It is already two years since Sasun has been involved in installation of heating systems. He provides this service to locals and gathers income which is vital for him to sustain his family. Sasun 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. He 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. Sasun needs this loan to purchase specialized equipment for his work. This will help Sasun to provide better service to his customers and he will be able to sustain 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.

Tags

About Armenia

  • $6,400
    Average annual income
  • 172
    View loans »
    Armenia Loans Fundraising
  • $13,193,200
    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 Sasun to pay for specialized equipment for his work.
84% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 30, 2013
Listed
Aug 15, 2013
Currency Exchange Loss:
Possible