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Henrik is from Chiva village of the Vayost Dzor region where he lives with his wife, mother and sister.

Henrik, his mother and wife work at a local village school and also run a farm. They keep livestock such as cows, calves and chickens, and also keep a greenhouse where their grow cloves. The cloves are sold at a local open market and the family gets a stable income from that business. The salary that they get is hardly enough for covering basic needs, so agriculture is an important source of income for the family. Henrik has now applied for this loan to be able to renovate the greenhouse and purchase a polyethylene cover for it. As the greenhouse is in very bad condition, this loan is vital for Henrik and his family to renovate it and continue their agribusiness.

As this is Henrik's first loan, it has been approved within the framework of a new joint initiative between Kiva and SEF. The first-chance loan program provides loans to people who haven't had access to credit products in the past because they have no credit history. Henrik will be very grateful to lenders for their support and the chance to continue his 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
  • 133
    View loans »
    Armenia Loans Fundraising
  • $14,314,150
    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 Henrik to pay for renovation of the greenhouse and purchase a polyethylene cover for it.
77% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 31, 2014
Feb 17, 2014
Currency Exchange Loss: