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Azganush has already been involved in the production of pastry products for ten years. She is already very skilled and known among her local customers due to her tasty pastries. She sells the products at local shops and gets money which is vital for her family's living. Azganush lives with her husband and daughter who assist Azganush very much.

Now this hardworking woman needs financial support to purchase materials in bulk and keep them for the winter season. Since during the winter season the materials that Azganush needs for the production of pastry products are very expensive, she wants to purchase them and keep them. Now Azganush is asking for a loan. She has 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.

The loan is very important for Azganush to purchase sugar, flour and margarine. She will be very grateful to lenders for assisting her with her pastry production.

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
  • 170
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • 409.3
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Azganush to buy sugar, flour and margarine to make different pastry products.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 16, 2013
Sep 19, 2013
Currency Exchange Loss:
Jan 17, 2016