Total loan: $1,350
Gyumri, Shirak Province, Armenia / Food
Flag of Armenia
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A loan helped to pay for a stove for making cookies.
Metaqsya is a baker from Gyumri town. She bakes bread and cookies in her house and her husband sells her products to local shops. Metaqsya is a very hard-working mother of three children. Together with her husband, she does her best to ensure a better life for their children. As a traditional Armenian woman, Metqasya bakes with great love and care thus her cookies and bread are well known among locals. Now, this diligent woman needs some financial support to purchase a stove. The old one that she owns is very old and it is very difficult for Metaqsya to bake products. Metaqsya requested a loan from local financial institutions several times, but without any success. Her loan request was rejected every time because her business isn't registered as a formal business. She 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. Thus, the support of Kiva lenders is very important for Metaqsya to purchase a new stove and continue the production of her tasty cookies.