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Armida is from Goris town, where she lives together with her mother and sister.

She has been involved in retail business for many years. In particular Armida sells cloth and dressmaking supplies to locals from her house. Armida's mother is 71 years old and is retired with a retirement pension. Armida is the only breadwinner of the family, so the income from her retail business is very important.

For purchasing new stocks of clothing supplies, Armida has no financial resources. It is very difficult for her to save money, because the family's daily costs are rising day by day.

So by applying for this loan, Armida is asking for money to be able to purchase new stock of clothing and dressmaking supplies and sell it to her customers.

Armida 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. So this loan is very important for Armida to be able to continue her business and provide better living conditions for her family.

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
  • 169
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • 405.9
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Armida to pay for new stocks of clothing and dressmaking supplies.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 29, 2013
Oct 6, 2013
Currency Exchange Loss:
Sep 17, 2015