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Albert M., age 58, owns and operates a confectionery business. He lives in Sevan with his wife and son, and Albert’s whole family contributes to the business, which consists of preparing and selling confectionery. Three years ago, Albert equipped a spot in the yard of his own house as a place for his new business endeavor. Before that, he worked as a builder in Russia, but then he decided to come back to his native land and start his family business.

At this point, his product is very popular in the entire Gegharkunik marz, whose centre is Sevan city. Albert provides many shops and school buffets with his confectionery, and while he was pleased that his business had expanded, he experienced difficulty delivering his product to such a large region. Therefore, with his first Kiva loan, Albert was able to buy a minibus for providing customers with his fresh products on time.

Albert intends to diversify his product, so he is currently asking for a 600.000 AMD loan in order to buy the necessary equipment for the production of salty stick confectionery.

Additional Information

About “Nor Horizon”

“Nor Horizon” UCO LLC is committed to promoting poverty alleviation in Armenia by providing high-quality financial and other business development services to enterprising individuals in under-served rural and urban markets who have a strong will to establish and develop their own small-scale businesses. Originally created as the Armenian micro credit program of Oxfam (Great Britain) in late 1995, “Nor Horizon” LLC has been licensed under supervision of the Central Bank of Armenia since early 2006.

For more information about “Nor Horizon,” please visit the partner page or website.

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About Armenia

  • $6,300
    Average annual income
  • 126
    View loans »
    Armenia Loans Fundraising
  • $14,888,900
    Funds lent in using Kiva
  • 376.8
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Albert to buy the necessary equipment for the production of salty stick confectionery.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Apr 15, 2011
Apr 18, 2011
Currency Exchange Loss:
Oct 15, 2012