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Khoren is from Eghegnadzor town where he lives with his wife and 25-years-old son.

Khoren has been involved in beekeeping for 20 years. He owns 30 colonies of bees, gets high quality honey and sells it locally. As honey is a must have item for almost each household of Eghegnadzor town and the whole region, Khoren has a good number of buyers.

Because of a hard financial situation Khoren is unable to invest in his beekeeping business and enlarge it. Therefore, he has applied for this loan. It will enable him to purchase 16 beehives and 13 colonies of bees, and also he will pay for a polyethylene cover for a greenhouse. This is very important for Khoren to enlarge his business and increase the income for his family.

Khoren has already taken a loan from a local financial institution before, but unfortunately wasn't able to return it back on time. However, thanks to the hard work during the recent times, Khoren was able to run his honey selling business in a sustainable way, ensuring that he will be able to cover the monthly payments. So, Khoren 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.

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
  • 125
    View loans »
    Armenia Loans Fundraising
  • $14,056,400
    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 Khoren to purchase a polyethylene cover for a greenhouse, 16 beehives, and 13 colonies of bees.
77% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 23, 2013
Jan 16, 2014
Currency Exchange Loss: