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Arzuman is from Gyumri town where he lives with his mother. Many years ago Arzuman started to earn his living from a retail business. Now, after years of hard work, Arzuman has gained many customers who prefer to purchase clothing accessories only from him. He purchases clothing stock from a neighboring country and resells it in his local town.

As the income from his retail business is very important for Arzuman, he needs financial support so that he can purchase a new stock of clothing to sell to his customers. Arzuman 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. The loan is very important for Arzuman to be able to enlarge his business and ensure better living conditions for his mother.

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
  • 136
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 406.4
    Armenia Drams (AMD) = $1 USD
A loan of $1,125 helped Arzuman to pay for a new stock of clothing to resell to customers.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 19, 2013
Oct 26, 2013
Currency Exchange Loss:
Nov 25, 2013