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Gyulnara is a mother of five sons. Her eldest son and her second one are migrant workers in a neighboring country. They left their mother with the hope of finding well paid jobs and financially sustaining their family.

Gyulnara and her other three sons are villagers. They run a farm which includes two cows, pigs and piglets, as well as a plot of land where corn and potatoes are cultivated.

Gyulnara is a very hardworking woman who has faced many difficulties in raising her five sons alone. She has now applied for this loan of USD 1000, asking financial support from Kiva lenders. The loan will greatly assist her to purchase two more calves for her farm. Gyulnara has taken a loan from local financial institutions before, but because of very difficult financial conditions, wasn't able to pay it back on time. She has 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
  • 127
    View loans »
    Armenia Loans Fundraising
  • $14,888,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $1,000 helped Gyulnara to purchase two more calves for her farm.
45% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Apr 1, 2014
Apr 8, 2014
Currency Exchange Loss: