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.
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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This loan has been fully funded!