A loan of $750 helped to buy supplies to provide electrician services to customers.

Armen's story

Armen, at the age of 31, found a means to make a living by providing electrician services. He repairs different type of technical machines and earns income for his family.

Armen lives and works in Gyumri town with his wife, 4-year-old son, mother and brother. He works hard to provide high quality service and gain more customers. Unfortunately, the income Armen gathers is hardly enough to cover the family's needs. As a result, there is no money left to invest in the business.

Armen has requested a loan from local financial institutions several times but his loan request was rejected every time because the business isn't registered as a formal business. He 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 easy conditions to informal businesses that do not have access to credit products.

With the help of the loan Armen will be able to purchase supplies and will be able to continue providing electrician services to customers.

Loan details

Lenders and lending teams

Loan details