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Gnel is from the village Nor-Armavir of Armavir region. His family consists of his elderly pensioner mother, his wife, and school age daughter, and son. Gnel works in the local school as a teacher of military subjects. He is the only breadwinner of the family and works hard to make ends meet. Gnel is also involved in the cultivation of tomatoes, eggplants, peppers, and watermelons. He currently wants to start cattle breeding as well.

A loan of USD 2,000 will help him greatly enabling to purchase three steers and some forage for them (alfalfa and barley). He has already taken a loan from a local financial institution before, but unfortunately wasn't able to pay it back. However, thanks to the hard work during the recent times, Gnel was able to run his agribusiness in a sustainable way, ensuring that he will be able to cover the monthly payments. So, he 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. Gnel will be thankful to all the lenders for helping him to develop his agribusiness.

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
  • 100
    View loans »
    Armenia Loans Fundraising
  • $16,723,925
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,000 helped Gnel to purchase three steers and some forage for them (alfalfa and barley).
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 30, 2013
Oct 6, 2013
Currency Exchange Loss:
Nov 5, 2013