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Ara is from Kapan. He has been involved in beekeeping for the last three years, and produces high-quality honey which is in high demand among people who live nearby. Ara lives with his wife and two little children. His wife is a teacher at a local school and also takes care of their children. Agriculture is the family's main source of income. Ara has applied for this loan to be build bee hives and hire workers. The loan will help him enlarge his production of honey and earn more income.

Ara has already taken out a loan from a local financial institution, but unfortunately wasn't able to repay it on time. However, thanks to his hard work in recent times, he was able to operate his beekeeping business in a sustainable way, ensuring that he will be able to cover the new monthly payments. So, Ara has 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 no access to credit products. The loan is very important if Ara is to enlarge his business and provide a better life to his family.

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
  • $17,105,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Ara to make bee hives and hire workers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 19, 2013
Jan 16, 2014
Currency Exchange Loss:
Dec 17, 2015