A loan of $750 helped to pay for renovation of his car and to purchase tools for the repair of vehicles.

Armen's story

Armen has been providing an auto maintenance service in Akhuryan village for many years. He lives with his wife and father and does his best to sustain their living. After several years of hard work, Armen already owns his own small place where he repairs different types of vehicles and cars. Armen has requested a loan from local financial institutions several times but without any success. His loan request was rejected every time because his business isn't registered as a formal business.

Armen 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 soft conditions to informal businesses that do not have access to credit products. This loan is very important for Armen to renovate his car and purchase tools specialized for his work. Armen will be very grateful to Kiva lenders for supporting him with the business which he does with great care and love and which is the only source of his income.

Loan details

Lenders and lending teams

Loan details