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Armen is an experienced farmer from Chiva village in the Vayots Dzor region. He lives with his wife, son, and school-age daughter. Armen's wife works in the village school. Unfortunately, her salary is so low it is impossible to meet the very basic needs of the family.

To take care of the family's needs Armen is extensively engaged in agribusiness; he breeds cattle, sheep, and hens, and cultivates peaches, apricots, apples, pears, and walnuts. With the help of his son he sells the products in the local market, which is an important source of income. Breeding sheep is the most essential component of Armen's business; he currently wants to expand it a little bit.

To reach that goal, he needs a loan of $3,000 to purchase 30 sheep. As this is Armen’s first loan, it has been approved within the framework of the new joint initiative between 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. Armen and his family will be very thankful to the lenders for their good will and 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
  • 136
    View loans »
    Armenia Loans Fundraising
  • $15,776,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Armen to purchase 30 sheep.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 19, 2013
Dec 17, 2013
Currency Exchange Loss:
Dec 17, 2015