He currently needs a loan of USD 2,500 to purchase some more beehives and special medications for beekeeping. He 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, Borik was able to run his agribusiness 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. Borik and his family will be grateful to all the lenders for helping them maintain their agribusiness.
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 InternationalSEF’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.
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