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Artak
Artak is from Masis town. He lives with his parents and is involved in taxi driving. He is the only breadwinner of the family, and the income from taxi driving is vital for his family. Unfortunately because of his car's nonworking condition, Artak isn't able to drive it as a taxi. He applied for this loan to be able to renovate it.

Artak 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 Artak and he will be very grateful to all his lenders for 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

  • $6,400
    Average annual income
  • 167
    View loans »
    Armenia Loans Fundraising
  • $13,280,700
    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 Artak to pay for the renovation of the car used as a taxi.
69% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 2, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible