Total loan: $2,075


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Armavir, Armavir Province, Armenia / Services

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A loan helped to pay for tools and materials that he needs for providing furniture making and repair services.

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 the father of two minor children who attend secondary school. He and his wife work hard to sustain their living and cover the family's daily costs. Artak has applied for this loan to purchase tools and materials that he needs to provide repair service and to make furniture.

He 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 to have new tools that are vital for his work.