Ruzanna took a loan from a local financial institution before and was unable to repay it, due to her family's weak financial situation and her unemployment. But after years of tireless work, she has been able to find a good job and owns a farm, which is profitable enough to cover monthly payments. Now, Ruzanna 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. This loan is very important, for Ruzanna to enlarge her farm and to be able to improve her children’s living conditions. With the loan funds, Ruzanna will purchase calves and forage for feeding them, and will renovate her greenhouse.
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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