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Sarmen is a young farmer from Goris city in the Syuniq region. He lives with his parents. Sarmen's mother works in the private sector. To take care of his family, Sarmen is engaged in beekeeping. His father helps him in his everyday activities related to beekeeping. Sarmen sells the honey in the local market, which is an important source of income for the family. Honey is a product in very high demand, particularly if it comes from the family's area.

To continue beekeeping in a sustainable way, Sarmen needs to make some investments in it. He needs a loan of $3,000 to purchase twenty beehives and to pay for the renovation and transportation of the beehives. He has taken a loan from a local financial institution before, but unfortunately wasn't able to repay it. However, thanks to hard work during recent times, Sarmen has been able to run his agribusiness in a sustainable way, ensuring that he will be able to cover the monthly payments.

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. Sarmen and his 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.


About Armenia

  • $6,300
    Average annual income
  • 140
    View loans »
    Armenia Loans Fundraising
  • $14,433,975
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $3,000 helped Sarmen to purchase twenty beehives and to pay for the renovation and transportation of the beehives.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 11, 2013
Nov 3, 2013
Currency Exchange Loss: