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Menik is a private entrepreneur from Norabats village of Ararat region. He lives with his parents and brother. Menik runs a store in Yerevan, where he sells different meat products. With the help of his family members, he also produces and sells half-stuff meat products, such as chicken cutlets and meat dumplings. To be able to run his small business in a more efficient and sustainable way, Menik needs a loan of USD 3000 to purchase refrigerators for his store to keep the meat products. As this is Menik’s first loan, it has been approved within the framework of the new joint initiative of Kiva and SEF. The first-chance loan program provides loans to people who have not had access to credit products, because they have no credit history. Menik and his family will be very thankful to lenders for their goodwill in helping them collect the needed amount of loan to sustain their 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
  • 121
    View loans »
    Armenia Loans Fundraising
  • $14,377,525
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $3,000 helped Menik to purchase refrigerators for his store in order to keep meat products.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 28, 2013
Oct 26, 2013
Currency Exchange Loss:
Nov 25, 2013