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Karen is from Yerevan town. From the rented small store in one of the trade centers Karen has been providing a watch repair and sale service for many years. Due to the hard and tireless work during the year, Karen has a good number of clients who prefer to repair and purchase their watches in Karen's store.

Karen lives with his wife and two children (ages 8 and 6 years old). As the only breadwinner of the family he works hard to sustain their living and cover basic needs. Currently he has applied for this loan of USD 1,500 to be able to purchase materials and tools that he needs to provide the watch-repair service. Karen took a loan from a local financial institution before, but unfortunately wasn't able to return it. However, thanks to his hard work during the recent times, Karen has been able to run his business in a sustainable way, ensuring that he will be able to cover the monthly payments. So, he has now been approved for a loan within the framework of a new joint initiative between Kiva and SEF international. The second-chance loan program provides loans to people who have a bad credit history and have no access to credit products.

Additional Information

More information about this loan

This loan is designed for clients who are considered to be riskier borrowers. SEF is committed to expanding financial access to these individuals, disbursing loans to clients who have no previous credit history, damaged credit, or who have been unable to get loans from other lending institutions.

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
  • 126
    View loans »
    Armenia Loans Fundraising
  • $14,888,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $1,500 helped Karen to pay for materials and tools to repair watches.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Nov 22, 2013
Dec 15, 2013
Currency Exchange Loss:
Feb 13, 2014