The income that Gnel gets is very important for meeting the family's daily needs, so he is now willing to enlarge it. Because of financially poor conditions, Gnel isn't able to purchase tools and equipment that he needs for providing reconstruction service of refrigerators. This is a reason Gnel has applied for this loan. 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 will greatly assist Gnel, and he will be able to increase the quality of service he provides.
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 InternationalSEF’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.
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Success!! The loan was 100% repaid