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Varuzhan
Varuzhan is 45 years old. He is married and has three children, including two daughters and one son. Varuzhan’s elder children are married and live separately while his younger son attends school. Varuzhan’s wife is unemployed.

Varuzhan has been repairing cars in Kajaran for more than five years. He buys old, broken-down cars, repairs them and then sells them for profit. Also, he takes orders for car repairing.

Varuzhan has his own workshop near his house; this allows him to cut down on his expenses. Additionally, Varuzhan works as a forester since he is the only breadwinner in the family. However, he earns the majority of his income through his auto-repairs business.

Varuzhan needs a 1.000.000 AMD loan to buy old and broken-down cars, which he will repair and sell for a profit. This is Varuzhan’s second loan from Nor Horizon.

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.

About Armenia

  • $6,400
    Average annual income
  • 100
    View loans »
    Armenia Loans Fundraising
  • $12,668,425
    Funds lent in using Kiva
  • 411.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,450 helped Varuzhan to buy old and broken-down cars for his business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 10, 2012
Listed
Aug 22, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014