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Update on Harutyun

Harutyun sells clothing and his wife helps him with his work. He has two daughters and a son. His two daughters are grown and married, and his son has finished school and now is serving in Armenian army.

This is Harutyun's third Kiva-funded loan. He used previous loans to diversify his business offerings, and now he has asked for a loan of 1,000,000 AMD loan to buy men’s and women’s spring jackets, shirts, and blouses to resell.

Previous Loan Details

Harutyun P. is 49 years old and lives in Vanadzor city. He is married and has three children — two daughters and a son. His daughters are already married and live separately, and his son is in school. For about 16 years Harutyun has been engaged in trading men and women clothing and sleepwear... More from Harutyun'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

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

  • $6,300
    Average annual income
  • 127
    View loans »
    Armenia Loans Fundraising
  • $14,873,900
    Funds lent in using Kiva
  • 387.5
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,600 helped Harutyun to buy men’s and women’s spring jackets, shirts, and blouses to resell.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Jan 23, 2012
Jan 23, 2012
Currency Exchange Loss:
Oct 17, 2012