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Armenak is from Khanjyan village of the Armavir region. He is a father of two sons, and his wife is a teacher at a local school. Armenak is involved in agriculture and grows peach and apricot trees. He sells the gathered harvest locally and gets income, which is very important for sustaining the family. Armenak has been working at a local village hall for many years, but the farming business helps him to have a stable income during the month. As the unemployment rate in the region is very high, it is very difficult for Armenak and his family to sustain their living.

Realizing that the farming business is very important for him, Armenak would like to expand it. He has applied to SEF International for a loan. With the help of the loan, Armenak will purchase four oxen and fertilizer, which is very important for the successful cultivation of the land.

Additional Information

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
  • 109
    View loans »
    Armenia Loans Fundraising
  • $14,056,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Armenak to pay for four oxen and fertilizer for land cultivation.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Apr 22, 2013
May 20, 2013
Currency Exchange Loss:
Nov 18, 2013