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Karen is from Gyumri town where he lives with his wife, mother and three children. Karen has been involved in the production of iron doors for 5 years. He is making doors with original designs and sells locally. Due to his high quality work, Karen is well known among the local population of Gyumri town.

Unfortunately, Karen's income is barely enough for covering the family's costs. As a father of three children, it is very difficult for him to supply all their needs. He needs financial assistance to be able to purchase tools and materials needed for his work.

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, the loan is very important for Karen and he hopes for the lenders' 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.


About Armenia

  • $6,300
    Average annual income
  • 159
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 405.6
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Karen to pay for tools and materials needed for his work.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 30, 2013
Oct 6, 2013
Currency Exchange Loss:
Oct 17, 2015