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Varsik is from the village Agarakadzor of Vayots Dzor region. She lives with her husband and his school-age son, who is 16 years old. Varsik is a teacher at the village school. Her salary, however, is not enough to meet her family's needs. To be able to cover her family's daily expenses, Varsik is engaged in breeding a livestock of cows, pigs, hens, and in the cultivation of peaches, apricots, apples, pears and walnuts. Her husband helps her greatly in realizing the agricultural products in the local market. In order for her agribusiness to function in a sustainable way and to be more productive, Varsik needs a loan of USD 2800 to purchase a steer and five piglets. She has already 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, Varsik 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. Varsik 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
  • 172
    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 $2,800 helped Varsik to purchase a steer and five piglets.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 18, 2013
Nov 5, 2013
Currency Exchange Loss:
Sep 17, 2015