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Karlen is a young veterinarian from Armavir city of Armavir region. He lives with his parents and three sisters. Karlen, his father and his oldest sister are the ones who take care of the family's everyday needs. Karlen runs two local veterinary pharmacies, where different vet medications are sold. He currently needs to make some investments in his small business in order for it to function in a sustainable way. To reach that goal Karlen needs a loan of USD 3000 in order to purchase vet medications to resell in the pharmacies. He has already taken a loan from a local financial institution, but unfortunately wasn't able to repay it back. However, thanks to his hard work, Karlen was able to run his business in a sustainable way, ensuring that he will be able to cover the monthly payments. So, he has now been approved for a loan within the framework of a new joint initiative between Kiva and SEF international. The second-chance loan program provides loans to people who have a bad credit history and have no access to credit products. Karlen will be thankful to all the lenders for helping him to sustain his small business

Additional Information

More information about this loan

This loan is designed for clients who are considered to be riskier borrowers. SEF is committed to expanding financial access to these individuals, disbursing loans to clients who have no previous credit history, damaged credit, or who have been unable to get loans from other lending institutions.

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
  • 94
    View loans »
    Armenia Loans Fundraising
  • $14,006,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $3,000 helped Karlen to purchase vet medication to resell in pharmacies.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 24, 2013
Sep 30, 2013
Currency Exchange Loss:
Oct 30, 2013