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Gevorg is a 26-year-old entrepreneur from Yerevan. Gevorg is cultivating pleurotus mushrooms in rented premises. He started this business 6 years ago. There is high demand for mushrooms in the market and hence the business is profitable. Currently, Gevorg is harvesting up to 500kg monthly. The premises (170 sq.m.) that he is occupying today are not large enough for the business's further development. Gevorg has already signed a new rent agreement for another premise, which is twice as big. Another advantage is that the new one is in a deep basement, where it is much cheaper to provide the needed temperature and humidity for mushrooms cultivation. Gevorg plans to use this loan to purchase necessary equipment to grow mushrooms and install it. He also plans to purchase 1,000 bags of mushroom seeds to grow in the new premises.
Gevorg lives with his mother. Gevorg's father died several years ago. Gevorg plans to provide himself with everything necessary in order to be ready for marriage. Development of the business is important for him to implement this goal.

Additional Information

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
  • 112
    View loans »
    Armenia Loans Fundraising
  • $16,727,525
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Gevorg to pay for equipment and installation and 1,000 bags of mushroom seeds.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 7, 2012
Jun 1, 2012
Currency Exchange Loss:
Sep 17, 2013