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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.

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
  • 165
    View loans »
    Armenia Loans Fundraising
  • $17,050,625
    Funds lent in using Kiva
  • 410.6
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Armen to buy supplies to provide electrician services to customers.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jul 30, 2013
Aug 13, 2013
Currency Exchange Loss:
Mar 19, 2015