Check out some available loans that are similar to this one!
Hovik has been running his own business more than 17 years: he carries passengers from Acharkut village in the Tavush area to Ijevan city and back. He fulfills his journey once a day 6 days a week.

Hovik has his own bus which he uses for his business, but as this bus is very old, it breaks down very often and Hovik is forced to spend a lot of money to repair it. Therefore Hovik wants to buy a new minibus for his business and so he is asking for a 1,000,000 AMD loan. The new minibus will allow him to transport passengers safely and more comfortably and to reduce the cost of his business as well.

Hovik is 52 years old. He lives in Acharkut village in the Tavush area. He is married and has two sons and a daughter, who are all married. With Hovik and his wife live his younger son, daughter-in-law and grandchild. Hovik has for many years worked as a driver in different organizations. His wife and daughter-in-law work in a village school and his son works for a monument conservation organization as an inspector.

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

About Armenia

  • $6,300
    Average annual income
  • 151
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 388.1
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,600 helped Hovik buy a minibus.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Mar 16, 2012
Mar 26, 2012
Currency Exchange Loss:
May 17, 2014