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Artyom is from Metsamor village. He lives with his wife, son, daughter-in-law and 8-year-old granddaughter. Artyom is involved in a furniture-making business. He makes different types of furniture accessories and doors, and sells to local people. After five years of hard work, Artyom is currently facing high demand for the products he is making and has already gained a good client base. Locals value the quality and hard work that Artyom provides. Now to be able to purchase tools and materials needed for making furniture, Artyom has applied for this loan. Because of his family's increasing costs, Artyom has no saved money and that's the reason he has applied for the loan.
Artyom 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 Artyom and he will be very grateful to 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.


About Armenia

  • $6,300
    Average annual income
  • 134
    View loans »
    Armenia Loans Fundraising
  • $14,328,850
    Funds lent in using Kiva
  • 405.3
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,500 helped Artyom to pay for tools and materials needed for his furniture-making business.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 7, 2013
Nov 5, 2013
Currency Exchange Loss: