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Armen lives with his wife in Yerevan town. He has been earning his living by providing installation services to locals for over 15 years. Armen installs air conditioning and heating systems by receiving orders. Now, in order to purchase tools and equipment needed for his work, Armen applied for this loan. He has 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 Armen to continue his business and provide better quality work to locals.

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
  • 99
    View loans »
    Armenia Loans Fundraising
  • $13,954,625
    Funds lent in using Kiva
  • 406.1
    Armenia Drams (AMD) = $1 USD
A loan of $1,500 helped Armen to pay for tools and equipment needed for providing installation services.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 24, 2013
Oct 29, 2013
Currency Exchange Loss:
Nov 28, 2013