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Karen is from Agarak village. He lives with his parents, wife and three children who are 13 years, 8 years and one year old.

Karen is the only breadwinner in the family as his parents are retired and his wife takes care of the household and the kids. The main source of income comes from agriculture and farming activities that Karen is involved in. He keeps two cows and owns a big orchard. He grows different types of fruit including peaches, apricots, cherries and apples as well as nuts and sells it at nearby markets. Karen does his best to sustain his family's living.

Karen has now applied to SEF for a loan of $2,700 to purchase a cow and forage to feed the livestock. Previously, Karen took a loan from a local financial institution but; unfortunately, he was not able to repay it. However, thanks to recent hard work, he was able to run the agribusiness in a sustainable way, ensuring that he will be able to cover the monthly payments. So, Karen 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.

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
  • 137
    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 $2,700 helped Karen to pay for a cow and forage for feeding the livestock.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 26, 2013
Dec 20, 2013
Currency Exchange Loss:
May 17, 2014