Total loan: $3,000
Jermuk town, Vayots Dzor region, Vayots Dzor Province, Armenia / Agriculture
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A loan helped to purchase 15 bee colonies, beehives and pesticides.
Karine lives in Jermuk town of Vayots Dzor village with her husband, parents and 22-year-old son. She works as a masseur at the local sanatorium. In order to earn sufficient amount of money for her family, Karine has been forced to look for other revenue sources. Particularly, she has been engaged in beekeeping for six years already. She already owns 20 bee colonies, but now wants to expand her agribusiness. Karine has taken a loan from a financial institution before, but because of the family's poor conditions, she wasn't able to pay it back. However, over these years of tireless work, she was able to own her agribusiness, which is profitable enough to cover monthly payments. Karine 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 bad credit history behind them and have no access to credit products. With the loan's help, she is planning to buy 15 bee colonies with hives and pesticides.