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Alvard lives in Gyumri with her two daughters, son and husband. Alvard is involved in a retail business. She sells clothing and dressmaking supplies in Gyumri town and in nearby villages. Her children are grown up and work hard to sustain their familes' living.

Alvard herself runs her business with big love and care towards her clients. Now, by applying for this loan, Alvard asks financial support to be able to purchase new stock of clothing to sell to her clients. She 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 this hardworking woman and she will be very grateful to all lenders.

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
  • 174
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • 414.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Alvard to pay for new clothing to sell.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Feb 28, 2014
Mar 16, 2014
Currency Exchange Loss:
Apr 17, 2016