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Sarine is from Ijevan town where she lives with her 7-year-old daughter. She is a mother of three sons as well, and her youngest son currently serves in the army and the other two are migrant workers in a neighboring country with their father.

As a hardworking mother of the family, Sarine herself has been running a small start-up business. She makes pastries and sells them locally. Due to her talent for making very tasty cookies and pastries, she receives a lot of orders during a month. Now Sarine has applied for this loan in order to be able to purchase some tools and materials needed for her work.

She has 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 favorable conditions to informal businesses that do not have access to credit products.

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
  • $16,733,225
    Funds lent in using Kiva
  • 414.9
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $575 helped Sarine to pay for tools and materials for making pastries.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 1, 2014
Apr 6, 2014
Currency Exchange Loss: