Update on SargisSargis is 33 years old and lives in Ijevan city. He is married and has two sons. For several years Sargis worked as a crane driver, after which he worked as head of security at one of the Ijevan companies.
Since 1993, Sargis and his mother have established their own business, which is fruit and vegetable trading at the Ijevan food market. Sargis buys fruits and vegetables from the neighboring villages and resells them in Ijevan city. Thanks to profit from his business, Sargis has built a shop for his trading and has bought new furniture for their apartment.
This is his second loan from Kiva and he is looking forward to continuing the growth of his business. Sargis is seeking a loan of 550,000 Armenian drams to buy fruits and vegetables to resell.
Previous Loan DetailsSargis N. is 32 years old and lives in Ijevan city. He is married and has a son. For several years Sargis worked as a crane driver, after which he worked as head of security at one of the Ijevan companies. Since 1993, Sargis and his parents have established their own business: fruit and vege... More from Sargis's previous loan »
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.
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Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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