Mihran provides service from a small rented garage in the center of Kapan town. He is already well known among locals as a good quality service provider. The tools that Mihran uses in his work are too old. Because of daily costs, Mihran isn't able to purchase new tools with his own financial means, so he has applied to SEF for help. The loan of 600,000 AMD will greatly assist Mihran to purchase tools and materials for providing his vehicle repair service.
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 great support for Mihran and he hopes for lenders' support.
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 InternationalSEF’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.
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Success!! The loan was 100% repaid