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Artashes is a private entrepreneur from Armavir city, in Armavir region. He lives with his parents and three brothers (who are 27, 23 and 14 years old). Artashes's father works as a seller in one of the local stores. To take care of his family, Artashes runs a furniture production business. His middle brother works in the same business. The family members work hard, to be able to cover their increasing needs.

To continue running his small business in a sustainable way, Artashes needs to make some investments. He needs a loan of USD 1500, which he will use to purchase necessary materials for furniture production. He has taken a loan from a local financial institution before, but unfortunately wasn't able to return it back. However, thanks to his hard work during more recent times, Artashes is 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. Artashes and his family will be thankful to all the lenders, for helping them to maintain their 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
  • 132
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Artashes to purchase necessary materials for furniture production.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Oct 29, 2013
Nov 10, 2013
Currency Exchange Loss:
Oct 17, 2015