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Aghasi
Aghasi is from Gyumri town where he lives with his wife and son. He has been working as a taxi driver for many years and sustains his family with the income he gathers from that business.
He works for local company who is providing transportation service to the locals of Gyumri town. Realizing the importance of his business and taking into account that it is the only source of income for the family, Aghasi wants to purchase his own car. The income that Aghasi gets is hardly enough for covering family's daily costs, so he was able to save little money for purchasing new car. For the other part of money he has applied to SEF for a loan. 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. So, this loan is very important for Aghasi to be able to purchase a minibus and enlarge his business.
Aghasi hopes for lenders' trust and support.

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
  • 103
    View loans »
    Armenia Loans Fundraising
  • $13,505,475
    Funds lent in using Kiva
  • 407.5
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,250 helped Aghasi to pay for new minibus.
83% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 21, 2013
Listed
Sep 28, 2013
Currency Exchange Loss:
Possible