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Gayane lives in Goris town with her family. The family has been involved in agriculture for 10 years. Mainly they are engaged in beekeeping and land cultivation. Currently Gayane and her family keep 5 colonies of bees. As honey is a must-have item for each household of Armenia, it is very much in demand among locals.

Gayane works hard to gather high quality honey and sell it. Her family consists of 7 people: Gayane herself, her husband, parents-in-law and three children (two of them are school age).

The income from agriculture hardly helps Gayane to cover her family's basic needs, so she would like to enlarge it. Gayane took a loan from a local financial institution before and wasn't able to repay it because of the family's poor conditions. But over years of hard work, Gayane and her family were able to farm in a way which is sustainable enough for covering monthly payments. So, Gayane 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 a bad credit history and have no access to credit products, so lenders will greatly assist Gayane by giving her an opportunity to purchase 5 more colonies of bees and 3 pigs.

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
  • 124
    View loans »
    Armenia Loans Fundraising
  • $16,783,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Gayane to pay for 5 colonies of bees and 3 pigs.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 31, 2013
Sep 3, 2013
Currency Exchange Loss:
Aug 17, 2015