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Update on Spartak

Spartak keeps on his business. Thanks to trade and photographing he is able to take care of his family and pay for his daughter’s education. Spartak spent his previous Kiva loan to buy a new professional camera.

Now Spartak is asking for a loan of 400,000 AMD to fill cartridge and to buy photographic paper, small gypseous [made with gypsum] statuettes, and paints for painting statuettes for his business.

Previous Loan Details

Spartak was born in 1960 in the city of Kapan. He is a cook by trade. Spartak is married and has three children. His older son is in his fourth year studying geology at Kapan Polytechnical Institute. Also Spartak has eighteen-year-old twins: a son who is serving in the army and a daughter who s... More from Spartak'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.

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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

  • $6,300
    Average annual income
  • 159
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 413.0
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Spartak to fill cartridge, and to buy photographic paper, small gypseous statuettes, and paints for painting statuettes for his business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Aug 3, 2012
Aug 13, 2012
Currency Exchange Loss:
Sep 17, 2013