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Gagik is an experienced farmer from Getap village of Vayots Dzor village. He lives with his wife and son. Gagik earns a living for his family through renovating cars. Gagik's son works in the private sector. The two of them are the only breadwinners of the family. As it is hardly possible to meet the family's needs based on their salaries, Gagik and his family are involved in cattle breeding and agriculture, and in cultivation of apricots, cherries, apples, pears, and walnuts. They realize the agricultural products in the local market. To be able to continue his agribusiness in a sustainable way, Gagik needs a loan of USD 3000 to purchase calves and to buy some forage for cattle. He has taken a loan from a local financial institution before, but unfortunately wasn't able to return it back. However, thanks to hard work during the recent times, Gagik 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 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
  • 168
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Gagik to purchase calves and to buy some forage for cattle.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 16, 2013
Nov 5, 2013
Currency Exchange Loss:
Jan 17, 2015