To take care of the family's needs Armen is extensively engaged in agribusiness; he breeds cattle, sheep, and hens, and cultivates peaches, apricots, apples, pears, and walnuts. With the help of his son he sells the products in the local market, which is an important source of income. Breeding sheep is the most essential component of Armen's business; he currently wants to expand it a little bit.
To reach that goal, he needs a loan of $3,000 to purchase 30 sheep. As this is Armen’s first loan, it has been approved within the framework of the new joint initiative between Kiva and SEF. The first-chance loan program provides loans to people who didn’t have access to credit products before because they have no credit history. Armen and his family will be very thankful to the lenders for their good will and support.
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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