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Yurik lives in Gugarq village with his wife and son. Yurik is a taxi driver with 5 years’ experience. He works day and night to gather enough income to sustain his family's living. Yurik's wife works at a local music school and helps her husband with family's costs.

Unfortunately, because of financial hardships that Yurik currently faces, he isn't able to renovate his car and continue his taxi driving business. Therefore, he is asking this loan to pay for the renovation of the vehicle and purchase of gasoline.

Yurik 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. So this loan is very important for Yurik and his family, and he hopes for lenders' support.

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
  • 172
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • 408.1
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Yurik repair his taxi.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 13, 2013
Oct 20, 2013
Currency Exchange Loss:
Sep 17, 2014