A loan of $1,100 helped to pay for an increase in working capital by purchasing watermelons.


Armen's story

Armen lives in Vanadzor town with his grandmother, who is retired and doesn't work. As the only breadwinner of the family, Armen works really hard. He has been engaged in a retail business for two years already. Despite his young age (he is 20 years old), Armen is already very skilled. He purchases different types of fruits and vegetables from nearby villages, and sells them at a local city market.

Now, for purchasing watermelons, this young and hardworking guy needs financial support. He has requested a loan from local financial institutions several times, but without any success. His loan request was rejected all the 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.

Thus, this loan will greatly assist Armen to increase sales of watermelons and ensure a better life for his grandmother.



Loan details


Lenders and lending teams



Loan details