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Mikhail is a young agronomist from Kapan city of Syunik region. He lives with his elderly pensioner grandmother. Mikhail works in the private sector. He is employed by two companies, and works hard to be able to earn a living. He is also engaged in beekeeping, which is an important source of income.

Mikhail realizes the honey in the local market. As life is getting more expensive with time, Mikhail wants to expand his agribusiness to be able to effectively meet his family's needs. A loan of USD 3,000 will support this young hard-working man, enabling him to purchase 25 beehives and the necessary materials for beekeeping (e.g., special medications and some wax).

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, Mikhail 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. Mikhail and his grandmother will be thankful to all the lenders for their goodwill in helping them collect the needed loan.

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
  • 151
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Mikhail to purchase 25 beehives and the necessary materials for beekeeping (e.g., special medications and some wax).
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 7, 2013
Nov 5, 2013
Currency Exchange Loss:
Nov 17, 2015