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Bavakan is from Gyumri town. She lives with her parents and sister. Bavakan is a cosmetologist with many years of experience. She provides manicure and make up services to locals from her house. Due to her hard work and good attitude toward people, Bavakan has many clients who prefer to use her service.

The income that Bavakan gets helps her cover family's basic needs and her personal needs. Currently, because of financial difficulties the family is facing, Bavakan needs to work more and gather higher income. She has applied for this loan to be able to purchase new tools and equipment that she needs for providing cosmetology service.

Bavakan 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. The loan is greatly important for Bavakan to be able to provide a bigger variety of services to her clients, and gather income that is vital 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
  • 122
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • 405.3
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Bavakan to pay for tools and equipment needed for providing cosmetology service.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 3, 2013
Nov 6, 2013
Currency Exchange Loss:
Nov 17, 2015