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Sevak
Sevak is from Norapat village of the Armavir region. It has already been 10 years that Sevak has been involved in furniture making. In the basement of his house, Sevak makes different types of furniture (bed, sofa, chairs, desks, etc).

He works hard to satisfy his clients' needs, and due to his attentive and hard work, he has a number of customers from the whole region. Now, because of the coming holidays, the number of orders has increased, and with his current materials, Sevak isn't able to complete them. He is asking for this loan to be able to purchase materials and tools needed for his work. 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.

Sevak will be very grateful to Kiva lenders for the 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.

Tags

About Armenia

  • $6,400
    Average annual income
  • 89
    View loans »
    Armenia Loans Fundraising
  • $12,418,775
    Funds lent in using Kiva
  • 404.9
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Sevak to pay for materials and tools for making furniture.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 17, 2013
Listed
Dec 24, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014