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Hermine runs a bakery. She started this business together with her husband, Gnel, who had worked in another bakery before, and three years ago decided to start his own bakery. Hermine and Gnel organize the production process with hired workers. Gnel also delivers the bread to shops in the village and neighboring villages. In the bakery they produce different types of breads, including the Armenian national bread, lavash.

Hermine wants to purchase special equipment for the paste kneading process. She also plans to renovate the bakery to have more comfortable conditions. For this aim she will purchase some construction materials.

The development of the business is important for Hermine to have additional income, which she plans to invest in the bakery's expansion: she would like to start production of pasta, too. This loan is important for Hermine to implement these goals and provide a stable income for her family. Hermine lives with her husband and son.

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
  • 171
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Hermine to pay for equipment for making bread and construction materials to renovate the bakery.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Jul 7, 2012
Jul 12, 2012
Currency Exchange Loss:
Jul 17, 2014