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Pavel is from Kapan town of Syuniq region. He lives with his wife and his little son and is installing heating systems for locals. He has been involved in this business for three years. The income from this activity is highly important for Pavel and his family. And as the winter is on its way, the demand for this service is currently increasing. Pavel has requested this loan to purchase tools and equipment required to do the installation. Pavel 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 Pavel to be able to provide a living for his family.

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
  • 134
    View loans »
    Armenia Loans Fundraising
  • $14,328,850
    Funds lent in using Kiva
  • 405.3
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,500 helped Pavel to purchase tools and equipment to install heating systems.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 3, 2013
Oct 9, 2013
Currency Exchange Loss: