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Araqsi
Araqsi is from Mrgashat village of Armavir region. Her family consists of her husband, daughter, and son. The latter currently is in the army. Araqsi's daughter is a university student. Araqsi has been a teacher in the local school for several years. Her husband works in the village's self-governance body. All the family works hard to be able to cover their basic needs. Araqsi is also engaged in cultivation of wheat, cucumber, and several fruits (peach, apricot, plum, grapes, apple and pear).

She currently needs a loan of USD 2,500 to purchase fertilizers, some materials for cultivation of grapes (wires, trestles, layers of grapes), and to pay for the harvesting services. The loan will help her greatly to sustain her agribusiness. She has already taken a loan from a local financial institution before, but unfortunately wasn't able to return it back. However, thanks to the hard work during the recent times, Araqsi was able to run her agribusiness in a sustainable way, ensuring that she will be able to cover the monthly payments. So, she 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.

Araqsi and her family will be thankful to all the lenders for helping them to maintain their agribusiness.

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.

Tags

About Armenia

  • $6,400
    Average annual income
  • 141
    View loans »
    Armenia Loans Fundraising
  • $12,991,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $2,500 helped Araqsi to purchase fertilizers, some materials for cultivation of grapes (wires, trestles, layers of grapes), and to pay for the harvesting services.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 30, 2013
Listed
Oct 6, 2013
Currency Exchange Loss:
N/A
Expired:
Nov 5, 2013