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Karen lives with his wife, mother and two grown up children in Vanadzor town. For 10 years, Karen has worked as a taxi driver using his own car. He mainly drives the Yerevan-Vanadzor route and has a lot of customers. They prefer to travel such a far distance in his taxi since he drives attentively and very carefully.

Karen is asking for a loan to do some repairs to his car since it is seriously damaged and Karen isn’t able to continue his business.
Karen 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 other credit products. The loan is very important for this hard working man who does his best to provide good living conditions for his 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.


About Armenia

  • $6,300
    Average annual income
  • 128
    View loans »
    Armenia Loans Fundraising
  • $14,869,400
    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 $625 helped Karen to pay for repairs to his car.
95% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Oct 18, 2013
Nov 14, 2013
Currency Exchange Loss: