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Marine lives in Gyumri town with her two children, 9 and 1 year old. The only source of family income comes from cosmetology services that she has been providing for the last five years. Due to her tireless work, Marine manages to provide her small family with normal living conditions. She receives her clients at home and provides different types of cosmetology services.

Now, in order to be able to enlarge the service that she provides, Marine needs financial support. She has applied for this loan and currently has 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. This loan will greatly assist Marine to purchase tools and materials and she will be able to provide wider range of services to her clients.

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
  • 135
    View loans »
    Armenia Loans Fundraising
  • $14,328,850
    Funds lent in using Kiva
  • 405.9
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,500 helped Marine to pay for tools and materials for providing cosmetology services.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 15, 2013
Nov 14, 2013
Currency Exchange Loss: