A loan of $1,500 helped to purchase three heifers.

Formis's story

Formis is a young farmer from the Gandzaqar village of the Tavush region. She lives with her husband, two sons (12 and 10 years old), one-year-old daughter, and her mother-in-law.

With the help of her family members Formis is engaged in breeding livestock (cows and hens), and cultivating corn, beans, potatoes, grasses and several kinds of fruit (cherry, plum, quince, fig, apple, pear and walnut). Her husband helps her sell the agricultural products in the local market.

Farming is the most important source of income for the family. As their needs grow, Formis wants to increase her herd to be able to meet the needs of her family more effectively. A loan of USD 1,500 will greatly help this hardworking woman, enabling her to purchase three heifers.

As this is Formis’s first loan, it has been approved within the framework of the new joint initiative between Kiva and SEF. The first-chance loan program provides loans to people who didn’t have access to credit products before, because they have no credit history. She and her family will be very thankful to the lenders for their goodwill and support for loan to sustain their agribusiness.

Loan details

Lenders and lending teams

Loan details