The Micro Enterprise Development (MED) program started in 1996 as a part of World Vision’s sustainable development approach to create job opportunities for the poor in Armenia.
In 2003 SEF International successfully obtained a Central Bank license to carry out a full-range of credit activity in Armenia through its branches.
Currently SEF International is owned by VisionFund International – a subsidiary of WVI specialized in microfinance.
By providing loans and financial consultations to sole proprietors, farmers and entrepreneurs, SEF aims to boost income generation and employment opportunities to ensure a healthy and sustainable livelihood for families and children. SEF also provides social (consumer) loans in both Yerevan, Stepanavan and Syunik region. These loans are used to cover family expenses.
SEF is operating in Yerevan and through branch offices in Sisian and Kapan, and representative offices in Talin ADP, Stepanavan ADP areas, as well as Goris and Meghri regions. More than 50 percent of current portfolio and 75 percent of SEF clients are in the poorest rural communities.
Since Micro-Enterprise Development activities started, more than US$ 35 million in loans has been provided to more than 27,000 micro, small and medium enterprises and farmers. More than 28,000 jobs were created or sustained, supporting over 55,000 children.
In 2005 and 2006 SEF International received a Financial Transparency Merit Awards from the Consultative Group to Assist the Poor (CGAP). This award is designed to promote greater transparency in annual financial reporting by micro finance institutions.
SEF International in figures (as of October 2009):
- SEF outstanding portfolio is (end of October 09): US $5,712,661
- Total value of loans disbursed during 2009: US $5,903,114
- Number of borrowers received loans during 2009: 5,203
- Number of loans disbursed during 2009: 5,261
- Total number of clients: 4,664
- Percentage of female clients: 46%
- Jobs created: 206
- Jobs sustained: 2,269
- Number of children impacted: 9,076
The services SEF provides:
- Credits for farmers and agriculture cooperatives
- Credits for sole proprietors and small enterprises
- Consumer credits to cover family expenses
- Credits for housing
- Pre-loan financial consultancy
- Quick credit application processing
- Flexible credit conditions
Head Office Yerevan,
19/19 Yervand Kochar St.
375070 Yerevan, Armenia
Tel: (+374 10) 57-77-71