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Norik

Update on Norik

Norik and his wife are still farming. With joint effort they breed cattle, grow apples, pears, plums, potatoes, tomatoes, wheat, etc. Thanks to farming Norik keeps his family and pays his daughter’s tuition fees.

Norik used his first Kiva loan for hay collection organization. Now he is asking for a loan which he will also use to organize hay collection (to rent out a tractor and hire an operator, to buy diesel fuel) and to also buy wheat seeds. He needs a 900,000 AMD loan to accomplish these plans.

Previous Loan Details

Norik is 52 years old, he was born in the village of Shikahogh and has graduation from the village secondary school. Norik is married and has a son and daughter. His son is 23 years old and he studies in the Yerevan medical university, he is in his second junior year semester in the tuition-free ... More from Norik'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
  • 177
    View loans »
    Armenia Loans Fundraising
  • $13,193,200
    Funds lent in using Kiva
  • 407.3
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,225 helped Norik to organize hay collection and to buy wheat seeds.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 26, 2012
Listed
Jul 31, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 18, 2013