He has already taken out a loan from a local financial institution, but unfortunately wasn't able to repay it. However, thanks to his hard work during recent years, Samvel and his family were able to run their agribusiness in a sustainable way, ensuring that they will be able to cover monthly payments. So, he has now been approved for a loan within the framework of a new joint initiative between Kiva and SEF international which provides a second-chance loan to people who have a bad credit history and no access to credit. The loan is very important for this hard working farmer if he is to increase his income from agriculture and provide better living conditions for his family.
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 InternationalSEF’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.
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Success!! The loan was 100% repaid