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Khazhak is an experienced farmer from Geghasar village in the Lori region. He lives with his wife, three sons (22, 21 and 1 years old), and his elderly mother. His middle son is a labor migrant worker in Russia; he works there and sends some money to the family to take care of their needs. With the help of his family members, Khazhak is engaged in cattle breeding, in aviculture, and in the cultivation of wheat, barley, potato, and beets. He sells the agricultural products in the local market, which is the most important source of their income. The cattle barn is currently in very poor condition and needs to be expanded a little bit and renovated. Khazhak needs a loan of USD 2,000 to renovate the barn. As this is Khazhak’s first loan, it has been approved within the framework of the new joint initiative of Kiva and SEF. The first-chance loan program provides loans to people who didn’t have access to credit products before because they have no credit history. Khazhak and his family will be very thankful to the lenders for the goodwill and will highly appreciate their support.

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
  • 169
    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 $2,000 helped Khazhak to renovate the barn.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 14, 2013
Nov 6, 2013
Currency Exchange Loss:
Nov 17, 2015