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Valeri is from Vahagni village, Lori region, where he lives with his father, wife and two children (ages 8 and 6). Valeri has already been involved in the stone manufacturing business for five years. Over years of hard work, Valeri was able to sign a number of contracts with companies who purchase the stones that Valeri produces and manufactures.

Currently because of high costs, Valeri isn't able to purchase tools and materials needed for production. He is asking for this loan and hopes for lenders' support. Valeri 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 Valeri to be able to continue his business and improve his family's living conditions.

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
  • 132
    View loans »
    Armenia Loans Fundraising
  • $14,333,525
    Funds lent in using Kiva
  • 405.7
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $750 helped Valeri to pay for tools and materials needed for his stone manufacturing business.
90% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 28, 2013
Nov 1, 2013
Currency Exchange Loss: