Vahagn is from the town of Yerevan, where he lives with his mother. For many years, Vahagn has been engaged in vehicle repair services. In a rented garage near one of the city markets, Vahagn provides different type of vehicle repair services. Due to his hard work, Vahagn manages to cover his family's needs. Now, as the worker of the family, Vahagn wants to enlarge his business activity. He needs financial support so he is able to purchase tools and materials and enlarge his business of providing vehicle repair services. Vahagn 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. The loan is very important for Vahagn so he can meet his client's needs in more appropriate ways and be able to make a higher income to earn a living for himself and his mother.
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.