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Mkhitar
64-year-old Mkhitar lives in Ddmashen village, in the area of Sevan, with his wife. Mkhitar’s 3 daughters and son have already married and they live separately from their parents. For 30 years Mkhitar had worked as a lorry driver in different organizations.

He has been running a farm for about 12 years. On his farm he has cows, sheep, pigs and chickens. He also grows potatoes. With his wife’s help, Mkhitar manages his farm and sells his farm produce (milk, fermented milk, cheese, potatoes) in the Yerevan food market. He and his wife like their occupation and they work very hard, so they were able to organize their children’s weddings, and now they support themselves independently.

Mkhitar needs an 800.000 AMD loan to increase his number of sheep, which will lead to his family’s income growth in the near future.

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
  • 94
    View loans »
    Armenia Loans Fundraising
  • $14,006,425
    Funds lent in using Kiva
  • 368.5
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Mkhitar to buy more sheep.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 12, 2011
Listed
Jul 16, 2011
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013