Arsen is running the vehicle repair business well enough as the income from the business helps him cover his family's basic needs. Now, to be able to change the old tools and equipment with new ones, Arsen needs financial support. He is asking for this loan to be able to purchase needed tools and equipment, and make his work more effective.
Arsen 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 Arsen and he hopes for lenders' goodwill and support.
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 InternationalSEF’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.
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This loan has been fully funded!