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Bagrat
Bagrat lives with his mother, brother, wife and two little children. A year ago Bagrat started up his furniture-making business. After this time of hard work, now he receives many orders and is able to sustain his family’s living.

Bagrat is the main breadwinner of the family so it is very difficult for him to cover his family’s needs and at the same time save money for his input costs of production. So he has applied for this loan for purchasing materials needed for the production of furniture. Bagrat 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 be a great support for Bagrat 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
  • 157
    View loans »
    Armenia Loans Fundraising
  • $13,753,150
    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 Bagrat to pay for materials for furniture manufacturing.
78% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 9, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible