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Hovhasnnes is from Shenavan village of Armavir region. He lives with his wife, mother and sister. Hovhannes works in the secondary school as a teacher. His wife also works in the same school. Both of them work hard to be able to earn a living.

After his father's death, Hovhannes took the responsibility of taking care of the family. The family is also engaged in breeding a livestock of cows and pigs, in the cultivation of sunflowers and several fruits (cherry, grape, apple and pear). Hovhannes currently needs a loan of USD 3000 to purchase some necessary materials for the cultivation of grapes (pipes, stones, sand and soil). 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, Hovhannes 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 poor credit history and have no access to credit products. Hovhannes and his family will be thankful to all the lenders for helping them to 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
  • 166
    View loans »
    Armenia Loans Fundraising
  • $17,071,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $3,000 helped Hovhannes to purchase some necessary materials for cultivation of grapes (pipes, stones, sand and soil).
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 30, 2013
Oct 22, 2013
Currency Exchange Loss:
Nov 21, 2013