Update on LevonLevon was born in 1957 in Ijevan City. He is married and has three children: two daughters and a son. His son is school-aged, one daughter is a student, and his elder daughter graduated from the institute two years ago but is still jobless.
For 12 years Levon worked as a warehouse manager at Ijevan's building administration. After that he moved from Armenia to Russia, but in 2000 he returned to his native land and organized his own food and household goods business. During these years, with income from his business, Levon was able to support his family and pay for his daughters’ education.
With his first Kiva loan, Levon increased the assortment of goods in his shop. Thanks to income from his business, Levon built on an additional storey of his shop and also was able to roof it. But he hasn’t made interior repairs of that additional storey yet. Also Levon has partitioned off a part of his shop, where he has placed three computers and has started to manage an internet-cafe. That fact allows him to increase his profit from his businesses.
Now Levon is seeking a 1,000,000 AMD loan to increase his shop assortment before the New Year’s holidays. With his loan he will buy beverages and foods, candy, confectionery, sausages, etc. for his shop. His future income will be spent to make interior repair of the additional storey of his shop and to move his new internet-cafe to that storey.
Previous Loan DetailsLevon K. was born in 1957 in Ijevan city. He is married and has three children: two daughters and a son. His son is school-aged, one daughter is a student, and his elder daughter graduated from the institute last year but is still jobless. For 12 years Levon worked as a warehouse manager at… More from Levon'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.
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.
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Success!! The loan was 100% repaid