Karen lives with his wife and two children (ages 8 and 6 years old). As the only breadwinner of the family he works hard to sustain their living and cover basic needs. Currently he has applied for this loan of USD 1,500 to be able to purchase materials and tools that he needs to provide the watch-repair service. Karen took a loan from a local financial institution before, but unfortunately wasn't able to return it. However, thanks to his hard work during the recent times, Karen has been able to run his business 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.
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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