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Vardan has worked as a taxi driver for seven years. He lives together with his daughter and is the only breadwinner for his small family. His hard and tireless work is valued among his clients, who prefer to travel with Vardan far distances, since he is a very attentive and qualified driver.

Vardan is asking for this loan because he needs financial support to renovate his car and purchase new tires. He 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 soft conditions to informal businesses that do not have access to credit products. The loan will be a huge support for this hard-working man to continue his work and gather more income for his beloved daughter. Vardan's daughter is 18-years-old and studies at a local school.

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
  • 156
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 404.6
    Armenia Drams (AMD) = $1 USD
A loan of $1,500 helped Vardan to pay for renovation of his car and new tires.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 29, 2013
Nov 27, 2013
Currency Exchange Loss:
Jan 26, 2014