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Zhanna lives in Vayots Dzor with her son. Zhanna's husband is currently working as a laborer outside of the country and tries to support his family financially. Zhanna herself has been working at a bakery. She makes Armenian bread and sells it locally. Zhanna is a very hardworking woman and the income that she gathers from bread making is very important for her family's living. Zhanna has applied for this loan to be able to purchase an oven and materials for making bread. 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.

The loan is very important for Zhanna and she hopes for lenders' 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.


About Armenia

  • $6,300
    Average annual income
  • 136
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 413.4
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,475 helped Zhanna to pay for an oven and materials for making bread.
67% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 14, 2014
May 31, 2014
Currency Exchange Loss: