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Knarik is an experienced agronomist from Goravan village of Ararat region. She lives with her husband and three sons. Knarik's husband works in the private sector, but his salary is so low that he cannot meet the family's needs based on that salary. All the family is engaged in the cultivation of wheat, tomato, peach and apricot. Knarik's husband and sons sell their agricultural products at the local market. Agribusiness are an important source of income for the family. In order to continue farming activities, Knarik needs a loan of USD 3,000 to purchase wheat seeds, pay for the harvesting services, pay for the workforce, buy fuel for agricultural machinery, and make previous credit repayments. She 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 recently, Knarik was able to run her agribusiness in a sustainable way, ensuring that she will be able to cover the monthly payments. So, she 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. Knarik and her 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
  • 171
    View loans »
    Armenia Loans Fundraising
  • $17,126,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Knarik to pay for wheat seeds, harvesting services, labourers, to buy fuel for agricultural machinery, and previous credit repayments.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Oct 3, 2013
Oct 28, 2013
Currency Exchange Loss:
Oct 17, 2015