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Manuk, who lives in Nor Kharberd village of Ararat region, has been providing taxi service using his own bus for 10 years now. As only a few people in the village own a car, the service that Manuk provides is in high demand. Currently the bus is in not in working condition and needs to be renovated as some parts are seriously damaged.

Manuk has applied for this loan to renovate the bus 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 greatly help this hardworking man to continue providing transportation service to locals and earn more income for his family. Manuk lives with his retired mother and two children.

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
  • 101
    View loans »
    Armenia Loans Fundraising
  • $14,006,425
    Funds lent in using Kiva
  • 406.1
    Armenia Drams (AMD) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,500 helped Manuk to pay for renovation of his bus and new tires.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 23, 2013
Jan 20, 2014
Currency Exchange Loss:
May 17, 2015