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Mihran lives together with his mother, who doesn't work and takes care of the household. Mihran is the only breadwinner in the family and feels very responsible for being able to provide appropriate living conditions for his mother.

Mihran provides service from a small rented garage in the center of Kapan town. He is already well known among locals as a good quality service provider. The tools that Mihran uses in his work are too old. Because of daily costs, Mihran isn't able to purchase new tools with his own financial means, so he has applied to SEF for help. The loan of 600,000 AMD will greatly assist Mihran to purchase tools and materials for providing his vehicle repair service.

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 be a great support for Mihran and he hopes for lenders' support.

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
  • 137
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • 404.9
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Mihran to pay for tools and materials for providing vehicle repair service.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 13, 2013
Dec 28, 2013
Currency Exchange Loss:
Jan 17, 2015