Total loan: $2,200


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Kapan, Syuniq region, Syunik Province, Armenia / Retail

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A loan helped to acquire new stock of materials to meet the demands of his customers, and to attract new ones in order to increase his income and provide a chance for proper education for his son.

Gagik's story

Get to know Gagik, an ambitious individual entrepreneur, from Kapan town of Armenia. Gagik is married and lives with his wife and 14-year-old son. He runs a small shop that is specialized in selling different kinds of fabric curtains, covers, and towels. The materials are being supplied from Yerevan, or in some cases, his wife's relatives from abroad send them. Gagik has a good reputation among his customers, and everyone loves the variety of products he offers and his professional approach to his work.

To develop his small retail business, he has requested 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. With the financial assistance provided, Gagik plans to purchase new stock of materials to meet the demands of his customers.

He believes that with this he will attract new customers and increase the family's income. Gagik works hard to ensure a better living for his family and to provide opportunity for a proper education for his son.