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Hamlet, who lives in Vanadzor with his wife and two children, owns a small garage where he provides an auto washing service to locals. The sole provider for his family, Hamlet has applied for this loan to renovate his garage and purchase new equipment for it. The loan will be a big support for this young businessman and will help him to provide better service to his clients.

Hamlet 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.

Hamlet waits for lenders' support and hopes for their goodwill.

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
  • 124
    View loans »
    Armenia Loans Fundraising
  • $16,783,950
    Funds lent in using Kiva
  • 410.2
    Armenia Drams (AMD) = $1 USD
A loan of $1,475 helped Hamlet to pay for the renovation of his auto washing garage and new equipment for it.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jan 23, 2014
Feb 6, 2014
Currency Exchange Loss:
Mar 8, 2014