Update on AmalyaAmalya is still running her business selling women’s and children’s clothes, food, household goods and trinkets. She buys the clothes, trinkets and household goods in Yerevan once a week, while she purchases food from suppliers everyday. Thanks to her business income Amalya provides for herself, has bought furniture for her apartment, and recently repaired her apartment.
Amalya used her first Kiva loan to buy clothes and household goods for her business. She is now requesting a 1,000,000 AMD loan to buy tank tops, T-shirts, shorts, flip-flops, canned food, candy, beverages and household goods for her business.
Previous Loan DetailsAmalya M. was born in 1955. She has three children, who are already married and live separately from their mother. Amalya lives in the Azatamut area of Ijevan and has been running her own business. Over 10 years she has been selling food, clothes and household goods. Thanks to income from her bu... More from Amalya'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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