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Borik is from Goris city of Syuniq region. He lives with his pensioner mother and his father. Borik works in the military service. He and his family are engaged in beekeeping; they have 40 beehives. Borik realizes the honey in the local market. Beekeeping in an important source of income for the family.

He currently needs a loan of USD 2,500 to purchase some more beehives and special medications for beekeeping. He has already taken a loan from a local financial institution before, but unfortunately wasn't able to return it back. However, thanks to the hard work during the recent times, Borik 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. Borik and his family will be grateful to all the lenders for helping them maintain their 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
  • 125
    View loans »
    Armenia Loans Fundraising
  • $16,783,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,500 helped Borik to purchase more beehives and special medications for beekeeping.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 30, 2013
Oct 10, 2013
Currency Exchange Loss:
Nov 9, 2013