Update on AstghikAstghik is still managing her agricultural business. Thanks to the business she is able to pay for her son’s education and to fulfil part of her family’s needs. Astghik shares with us that now her daughter is married and she lives separately from her parents.
Astghik used her first Kiva loan to buy seedlings of new potato varieties. This allowed her to improve her income from sales of agricultural products. Now she needs a 900,000 AMD loan to buy a plot of land where she will plant potatoes, haricots, tomatoes, cucumbers and also an orchard. This will allow her to develop her agricultural business and thus to increase her family’s income in the future.
Previous Loan DetailsAstghik was born in 1962 in the Gegharkuniq village. She has a higher education and graduated from the Yerevan State University with a geology major. Astghik got married in 1985 and now lives with her husband and children in the town of Kapan. She has a son and a daughter. Her son is twenty y... More from Astghik'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