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Movses
Movses is from Getap village of Vayots Dzor region. He has been providing auto repair services for the past 15 years. Due to his high quality and hard work Movses is well known among the local people of Getap village. Unfortunately the tools that Movses has are very old and need to be changed with new ones. Movses has applied for this loan to purchase new tools and equipment. 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. The loan will greatly assist Movses with his auto repair service and he hopes for 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.

Tags

About Armenia

  • $6,300
    Average annual income
  • 97
    View loans »
    Armenia Loans Fundraising
  • $13,987,025
    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 $1,500 helped Movses to pay for tools and equipment for providing auto repair services.
88% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 27, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible