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Armen lives in Vanadzor with his wife and two school-age children. He has been an electrician for four years. As the only breadwinner of the family, Armen works hard to earn a good income and sustain his family. Due to his hard work over the years, Armen is now providing high quality work and is able to expand his business.

Armen has now been approved for a loan within the framework of the new joint initiative of Kiva and SEF. The start-up loan program envisages provision of business start-up loans on soft conditions to people who do not have access to credit products. Armen needs this loan to purchase supplies for his business. It is very important for him to be able to satisfy his customers' needs and provide better living conditions for his family.

Additional Information

More information about this loan

This loan is part of SEF's startup pilot project to benefit borrowers working in Armenia's non-formal business sector. By providing working capital to artists, auto mechanics, bakers, furniture makers, construction workers and other informal entrepreneurs, SEF aims to help them formalize their businesses, increase their incomes, and build brighter futures.

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
  • 166
    View loans »
    Armenia Loans Fundraising
  • $17,105,775
    Funds lent in using Kiva
  • 410.8
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Armen to pay for supplies.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jul 24, 2013
Aug 5, 2013
Currency Exchange Loss:
Aug 17, 2014