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Naira lives with her 9-year-old son in Yerevan. She is a divorced woman who does her best to provide her son with appropriate living conditions. Naira has been involved in the retail business for over a year. She rents a small space in one of the local markets and sells clothing and dress making accessories. She is very polite and kind with her customers and that's the reason she has a good client base. Currently, Naira asks for this loan to be able to purchase a new stock of clothing. As the winter has already come, there is high demand for winter clothing which Naira would like to purchase with the help of the loan. Naira 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 Naira and she will be very thankful to lenders for their support.

Naira dreams of having her own shop and enlarging her business.

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
  • 100
    View loans »
    Armenia Loans Fundraising
  • $16,723,925
    Funds lent in using Kiva
  • 404.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Naira to pay for a new stock of clothing to resell it to customers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 3, 2013
Dec 6, 2013
Currency Exchange Loss:
Apr 17, 2016