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Sonya

Update on Sonya

Sonya is 59 years old. She is a widow and lives in Yerevan with her son, daughter-in-law and three grandchildren. She has a high school education and 26 years of experience as a mathematics teacher.


After retiring on a pension, Sonya refused to be out of work, and more than ten years ago she decided to organize her own business selling women's clothes and underwear. She rents a stall in the trade market in Yerevan and buys merchandise from neighboring countries by herself. Due to her income from her business, she shares the family's expenses with her son.


Sonya says she likes her present business very much, and she is very happy that she is employed at her age.


Sonya received loans from Nor Horizon eleven times without repayment delay. This is now her third loan through Kiva. With her previous Kiva loans Sonya bought various swimsuits for her business.


Before the New Year’s holidays Sonya intends to buy winter and holiday clothes to resell. Therefore, she is seeking a 700,000 AMD loan.

Previous Loan Details

Sonya is 59 years old. She is a widow and lives in Yerevan with her son, daughter-in-law, and three grandchildren. She has a high school education and 26 years of experience as a mathematics teacher.

After retiring on a pension, Sonya refused to be out of work, and nine years ago she decide... More from Sonya'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
  • 182
    View loans »
    Armenia Loans Fundraising
  • $13,004,300
    Funds lent in using Kiva
  • 382.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,850 helped Sonya to buy winter and holiday clothes to resell.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 13, 2011
Listed
Dec 16, 2011
Currency Exchange Loss:
Possible
Ended:
Jul 15, 2012