Total loan: $2,200


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Armavir, Armavir Province, Armenia / Manufacturing

Artak's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!

A loan helped to purchase tools and materials needed for providing furniture making and repair services to his customers.

Artak's story

Artak is a constructor and furniture maker from Armavir. He has a workshop where he makes furniture and repairs different home appliances.

Artak is married and has two school-age children. He and his wife work hard to sustain the life of their family and cover the family's daily costs.

Artak has applied for this loan in order to purchase tools and materials needed for providing repair services and for making furniture for his customers. He has requested a loan from local financial institutions several times for his start-up business, but without any success. His loan request was rejected every time because his business isn't registered as formal.

Artak 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. This loan is very important for Artak. Having those new tools that are vital for his work will enable him to provide better quality service to his customers.