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Davit
Davit is from Vanadzor town where he lives with his wife (in the photo) and his daughter (in the photo). Davit has been driving a taxi for 10 years. Over these years of hard work, Davit was able to gather income that allows him to cover his family's basic needs.

A month ago, Davit sold his car to purchase a new minibus which will allow him to transport more people. Unfortunately, due to family's bad living conditions, Davit spent some of that money, and now needs USD 1,475 to purchase the minibus.

This is the reason why Davit has applied for this loan. He has been approved for the 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 for informal businesses that do not have access to credit products. So this loan is very important for Davit to be able to purchase a minibus and continue his taxi driving 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.

Tags

About Armenia

  • $6,400
    Average annual income
  • 111
    View loans »
    Armenia Loans Fundraising
  • $12,677,975
    Funds lent in using Kiva
  • 409.3
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,475 helped Davit to purchase a minibus to be able to continue his taxi driving business.
86% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 16, 2013
Listed
Sep 19, 2013
Currency Exchange Loss:
Possible