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Davit is from Kapan town where he lives with his wife and two little children. Upon returning from the army, Davit started three years ago to provide renovation services. Due to his hard work, Davit was able to sustain his family with the income that he gathered from providing this service.

Now, for purchasing working tools and working more effectively, Davit needs financial support. He has requested a loan from local financial institutions several times, but without any success. His loan request was rejected all the time, because his business isn't registered as a formal business.

Davit 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 necessary for Davit to purchase a compressor and a power saw and continue his business.

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
  • 103
    View loans »
    Armenia Loans Fundraising
  • $12,655,100
    Funds lent in using Kiva
  • 412.2
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,475 helped Davit to pay for a compressor and a power saw for providing renovation services.
67% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 13, 2013
Sep 13, 2013
Currency Exchange Loss: