Check out some available loans that are similar to this one!
Karine is engaged in her lavash (Armenian bread) production. Her business is going well and is enlarged after three years of hard work. Karine's bread production profit allowed her to cover her family's basic needs.

Karine says that it is too hard to be engaged in bread production and also take care of the household, but with her husband's help, she does her best in order to enlarge and increase her current business.

This time Karine needs a loan of 500,000 Armenian drams to make renovations to the bakery. Karine 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.

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
  • 125
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • 407.6
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,250 helped Karine to pay for renovations to the bakery.
85% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 18, 2014
Jul 1, 2014
Currency Exchange Loss: