A loan of $1,500 helped to pay for materials and tools to repair watches.


Karen's story

Karen is from Yerevan town. From the rented small store in one of the trade centers Karen has been providing a watch repair and sale service for many years. Due to the hard and tireless work during the year, Karen has a good number of clients who prefer to repair and purchase their watches in Karen's store.

Karen lives with his wife and two children (ages 8 and 6 years old). As the only breadwinner of the family he works hard to sustain their living and cover basic needs. Currently he has applied for this loan of USD 1,500 to be able to purchase materials and tools that he needs to provide the watch-repair service. Karen took a loan from a local financial institution before, but unfortunately wasn't able to return it. However, thanks to his hard work during the recent times, Karen has been 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.



Loan details


Lenders and lending teams




Loan details