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Karen
Karen is from Vanadzor town where he lives with his parents, brother, and wife. Karen is providing vehicle repair service, and gathers income for his family's living. He repairs different types of vehicles, as well as resells spare parts of automobiles to his clients.

Now, to enlarge the business that Karen is involved in, he asks for this loan to purchase new stock of tools and materials needed for his work. 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 be a huge support for Karen as he will be able to provide better service to his clients, and will gather higher income for his beloved family.

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
  • 179
    View loans »
    Armenia Loans Fundraising
  • $13,240,200
    Funds lent in using Kiva
  • 406.2
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,500 helped Karen to pay for new stock of tools and materials needed for his work.
70% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 8, 2013
Listed
Nov 10, 2013
Currency Exchange Loss:
Possible