Update on SofikSofik is going on with her sewing business. Her business allows her and her family to provide for themselves. Thanks to her first Kiva loan Sofik was able to buy аn overstitching machine and materials for her business. Also during the loan period she bought a netbook which she uses at her business as well.
Recently Sofik’s customers number have increased as now she also fulfills a hospital’s orders for uniforms. Also she and her family are sewing bedclothes which they sell at wholesale markets.
Sofik needs $1,500 loan to buy an ornament making machine and materials for her business. This machine will allow Sofik to diversify her production and thus to increase her future income.
Previous Loan DetailsSofik was born in 1952 in Yerevan. She is a widow and lives with her daughter, son-in-low and four grandchildren. For more than 35 years, Sofik has engaged in garment making. For more than 20 years she worked at the manufacturer Metax as a seamstress. Then she worked at Ayas, a knitted goods… More from Sofik'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