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Gagik, a farmer from Narek village of Ararat region, lives with his wife, two sons (five and seven years old), and his mother. To take care of his family's everyday needs, Gagik is involved in the cultivation of tomatoes, alfalfa, grapes, apples and pears. He sells the agricultural products in the local market, and they are the main source of the family's income.

As their needs are growing day by day, Gagik must expand his agribusiness to more effectively meet the family's requirements. A loan of USD 2200 will help him greatly, enabling him to purchase three calves, pay for harvesting services, and buy fuel for agricultural machinery. He took a loan from a local financial institution before, but unfortunately wasn't able to repay it. However, thanks to his especially hard recent work, Gagik has been able to run his agribusiness in a sustainable way, ensuring that he will be able to cover the monthly payments.

Garik 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. Gagik 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
  • 171
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,200 helped Gagik to purchase three calves, pay for harvesting services and buy fuel for agricultural machinery.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 18, 2013
Oct 30, 2013
Currency Exchange Loss:
Nov 29, 2013