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Davit

Update on Davit

Davit earns a living by repairing cars and raising bees. Thanks to an earlier Kiva loan, he was able to expand his bee-keeping business. His two occupations have allowed him to support his family and build his own auto repair shop (he began repairing cars in his house's yard). He is now busy installing and maintaining gas cylinders in cars, and is asking for a 850,000 AMD loan to meet customer demand by buying several new cylinders and equipment for installing them. This is Davit’s fourth loan from Nor Horizon; he has never been late in making his repayments.

Previous Loan Details

Davit M. is 30 years old and lives in Ijevan city. He is married and has two daughters. Davit is engaged in beekeeping and his father helps him in his hard work. With the profit from his business, Davit keeps his family. Part of his produced honey he keeps for his family's usage, because natural ... More from Davit'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 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.

About Armenia

  • $6,400
    Average annual income
  • 106
    View loans »
    Armenia Loans Fundraising
  • $13,536,025
    Funds lent in using Kiva
  • 414.6
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,075 helped Davit to buy several gas cylinders and new equipment to install cylinders in customer cars.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 8, 2012
Listed
Jun 18, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014