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Hermine is from Vanadzor town, where she lives with her 5-year-old son. Hermine's husband currently is a labor migrant who continues to look for job with good terms.

For tackling financial hardships, Hermine got involved in a retail clothing business a year ago. She works hard to cover daily living expenses and providing appropriate living conditions for her son. Realizing that the retail clothing business is quite profitable, and she can earn a higher income through it, Hermine would like to expand it.

Because she has no savings, Hermine asks for this loan for financial support. The loan will help her purchase a new stock of clothing that she will sell to her customers.

She 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.

Hermine waits for lenders' support, and hopes for their help.

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
  • 111
    View loans »
    Armenia Loans Fundraising
  • $14,056,400
    Funds lent in using Kiva
  • 405.4
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,500 helped Hermine to pay for a new stock of clothing to sell to customers.
82% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 18, 2013
Nov 14, 2013
Currency Exchange Loss: