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Garik lives in Dalarik village with his wife and two little kids. Garik's wife doesn't work as she has to take care of their children. So as the only breadwinner in the family, Garik does his best to gather a high income. He breeds cattle and sells the meat and milk produced. For tackling financial hardships and enlarging the business, Garik has applied for this loan. The loan will assist him to purchase materials (desks, tools, etc.) for starting yogurt production. Taking into consideration the current market demand, Garik is sure that his start up business will have success. 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.
Let's help this enthusiastic young businessman to accomplish his goals.

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
  • 167
    View loans »
    Armenia Loans Fundraising
  • $14,954,275
    Funds lent in using Kiva
  • 412.5
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Garik to pay for materials (desks, tools, etc.) for starting yogurt production.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jan 31, 2014
Feb 14, 2014
Currency Exchange Loss:
Mar 19, 2015