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Gor lives in Yerevan with his mother. For many years, Gor has been earning his living by preparing paper bags and selling them. Over these years of hard work, Gor has already gained a good client base that order paper bags only from him. Because of his family's difficult financial condition, Gor currently isn't able to purchase paper and cover printing costs. He asks for this loan to be able to purchase his required amount of paper and cover printing costs, which will give him an opportunity to complete his clients' orders.

Gor 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 easy conditions to informal businesses that do not have access to credit products. Gor hopes for lenders' support and will be very grateful to them 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
  • 134
    View loans »
    Armenia Loans Fundraising
  • $14,328,850
    Funds lent in using Kiva
  • 404.6
    Armenia Drams (AMD) = $1 USD
A loan of $1,500 helped Gor to pay for paper and cover printing costs.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 6, 2013
Nov 26, 2013
Currency Exchange Loss:
Jan 25, 2014