To run his agribusiness in a sustainable way, he needs a loan of $2,550 to buy some forage for livestock, to pay for harvesting services, and to purchase fuel for agricultural machinery. Movses has taken a loan from a local financial institution before, but unfortunately wasn't able to repay it. However, thanks to hard work during recent times, he has been able to run his agribusiness in a sustainable way, ensuring that he will be able to cover monthly payments.
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. Movses and his family will be thankful to all the lenders for helping them to maintain their agribusiness.
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 InternationalSEF’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.
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