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Vagharshak is a young private entrepreneur from Gyumri city in the Shirak region. He lives with his parents. Vagharshak is the only breadwinner of the family. He runs a local retail shop selling women's clothes and handbags. The assortment of items sold in his shop is not that big and needs to be expanded and updated periodically in order for his small business to function in a sustainable way. Vagharshak currently needs a loan of USD 3,000 to purchase women's clothing, suitcases and handbags to resell in his shop. With the help of the loan, Vagharshak's small business will become more compatible. He has already taken a loan from a local financial institution before, but unfortunately wasn't able to pay it back. However, thanks to the hard work during recent times, Vagharshak was able to run his business in a sustainable way, ensuring that he will be able to cover the monthly payments. So, he has now been approved for a loan within the framework of a new joint initiative between Kiva and SEF international. The second-chance loan program provides loans to people who have a bad credit history and have no access to credit products. Vagharshak will be thankful to all the lenders for helping him to maintain and develop his small business.

Additional Information

More information about this loan

This loan is designed for clients who are considered to be riskier borrowers. SEF is committed to expanding financial access to these individuals, disbursing loans to clients who have no previous credit history, damaged credit, or who have been unable to get loans from other lending institutions.

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
  • 138
    View loans »
    Armenia Loans Fundraising
  • $15,744,675
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Vagharshak to purchase women's clothing, suitcases and handbags to resell in his shop.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 18, 2013
Nov 6, 2013
Currency Exchange Loss:
Nov 17, 2014