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Karen lives in Jermuk town of Vayots Dzor region. He lives with his wife and two-year-old son. From the rented garage in Jermuk town, Karen provides vehicle repair for locals. For the last year, he works on one or two autos each day and earns a living for his family. Karen is the only breadwinner in the family, so he works hard to sustain his family’s living.

Karen has applied for this loan to purchase tools and materials needed for 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.

Karen is very grateful to lenders for 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
  • 406.1
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Karen to buy tools and materials for his vehicle repair service.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 15, 2014
Jan 20, 2014
Currency Exchange Loss:
Feb 17, 2016