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Shoghik is from Vanadzor where she lives with her husband (in the photo) and 14-year-old daughter (in the photo). Shoghik has been involved in the cosmetics retail business for many years. She purchases stock from the city market and then resells it to her clients. The income from this activity isn't the only one for the family, but it is very important one. Shoghik gathers enough income from reselling perfume to help her husband with everyday household costs.

Now this hard working woman asks for a loan to be able to purchase new stock of perfume and resell it to her clients. 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 Shoghik to continue the business that she is involved in and gather more income for her beloved 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
  • 112
    View loans »
    Armenia Loans Fundraising
  • $16,727,525
    Funds lent in using Kiva
  • 405.7
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Shoghik to pay for new stock of perfume for selling to customers.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 28, 2013
Nov 1, 2013
Currency Exchange Loss:
Nov 17, 2015