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Tereza
Tereza is a devoted mother of two children. She sustains her family alone and earns a living by selling cloth and dressmaking supplies locally. She lives in Kapan town of Syuniq region and due to her kind attitude toward people and hard work, Tereza has gained many loyal customers.

To tackle financial hardship and purchase a new stock of supplies, Tereza 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. Tereza 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. This loan is very important for Tereza to meet her clients' needs by providing a new stock of inventory and thus gather more income for her children.

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
  • 113
    View loans »
    Armenia Loans Fundraising
  • $14,056,400
    Funds lent in using Kiva
  • 409.5
    Armenia Drams (AMD) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,475 helped Tereza to purchase cloth and dressmaking supplies to sell to customers.
97% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 6, 2013
Listed
Aug 15, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015