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Arman is from Ghukasavan village which is in the Ararat region of Armenia. He lives there with his parents and brother. Two years ago Arman started his manufacturing business. He makes different types of furniture and sells them to local people. Due to his high quality work, the furniture that he makes is much demanded among the locals.

Now, because of a lack of financial resources, Arman isn't able to satisfy the current demand of his customers. So by applying for this loan Arman asks for financial help to purchase a new stock of tools and materials. He 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 very important for this young and enthusiastic man to be able to continue his business and gather more income for his 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
  • 111
    View loans »
    Armenia Loans Fundraising
  • $16,727,525
    Funds lent in using Kiva
  • 406.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Arman to pay for a new stock of tools and materials to provide a manufacturing service.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 8, 2013
Nov 10, 2013
Currency Exchange Loss:
Nov 17, 2015