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Babken is from Bambakashat village of the Armavir region. He lives with his wife, two small sons (7 and 4 years old), and his parents.

Babken and his father work in the private sector, but unfortunately, their salaries are not enough to meet the needs of the family. Babken is also engaged in cattle breeding and in the cultivation of corn, sunflower, alfalfa and grapes.

Babken currently needs to make some investments in his agribusiness to be able to meet the increasing needs of his family more effectively. He needs a loan of USD 3,000 to purchase three steers, some forage for the livestock, and to renovate the agricultural machinery.

Babken has already taken a loan from a local financial institution before, but unfortunately wasn't able to repay it. However, thanks to the hard work during recent times, he 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.

Babken and his family will be thankful to all the lenders for helping them to maintain and develop 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
  • 161
    View loans »
    Armenia Loans Fundraising
  • $17,086,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Babken to purchase three steers, some forage for the livestock, and to renovate the agricultural machinery.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 12, 2013
Oct 21, 2013
Currency Exchange Loss:
May 17, 2014