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Alvard is a cooker. She has been making different cookies for 15 years already, and is well known among local people as a very talented and professional cooker.

Alvard lives together with her husband, parents-in-law, and two children (ages 24 and 21 years old). Besides Alvard, the only worker in the family is her elder son; he is involved in furniture production.

Now, the requested loan is very important for Alvard to purchase tools and materials needed for the production of cookies and covering current orders of the customers.

She has 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.

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
  • 126
    View loans »
    Armenia Loans Fundraising
  • $14,833,500
    Funds lent in using Kiva
  • 413.3
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Alvard to pay for tools and materials for the production of cookies.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
May 7, 2014
May 17, 2014
Currency Exchange Loss:
Nov 17, 2015