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Hovhannes is from Yerevan. He has worked as a taxi driver for three years, using his own car. Hovhannes lives with his mother, wife and two children (aged 12 and 10). He works hard to be able to sustain his family's living, as the only breadwinner of the family.

Now, so that he can continue to drive the taxi during winter, Hovhannes needs to purchase winter tires, as well as renovate the car. This is the reason why Hovhannes has applied for this loan. 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 is very important for Hovhannes and he would greatly like to receive this financial support.

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
  • 113
    View loans »
    Armenia Loans Fundraising
  • $14,056,400
    Funds lent in using Kiva
  • 404.6
    Armenia Drams (AMD) = $1 USD
A loan of $1,125 helped Hovhannes to pay for the renovation of his car and purchase tires for winter.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 18, 2013
Nov 29, 2013
Currency Exchange Loss:
Jan 28, 2014