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Armen

Update on Armen

Armen is 39 years-old and he lives in Ijevan city. Armen is married and has three children: two school aged daughters and a three year-old son.
His wife stays at home and takes care of their children, while Armen runs a fruit and vegetable shop. With his business income Armen was able to buy a van and now he delivers fruits and vegetables from Yerevan, different villages of Armenia and even from Georgia. He sells his merchandise from his van or from tables and boxes on the street.

Thanks to his business income he meets his family’s needs and has bought necessary furniture for their house. Now Armen is making an emphasis on potatoes and onion trading as his regular customers lay in a stock of these vegetables in winter. Armen is asking for a loan of 350,000 Armenian drams to buy a large lot of oranges, tangerines and lemons to resell before New Year’s holidays.

This is Armen’s second loan both from Kiva and Nor Horizon.

Previous Loan Details

Armen B. is 38 years-old and he lives in Ijevan city. Armen is married and has three children: two school aged daughters and a two year-old son. His wife stays at home and takes care of their children, while Armen runs a fruit and vegetable shop. With his business incomes Armen was able to bu... More from Armen's previous loan »

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.

To stay updated on loans from Armenia, please join the Armenia lending team at http://www.kiva.org/team/armenia.

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.

About Armenia

  • $6,400
    Average annual income
  • 167
    View loans »
    Armenia Loans Fundraising
  • $13,280,700
    Funds lent in using Kiva
  • 382.6
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Armen to buy a large lot of oranges, tangerines and lemons to resell.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 9, 2011
Listed
Dec 14, 2011
Currency Exchange Loss:
Possible
Ended:
May 17, 2013