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Suren

Update on Suren

Suren is still running his flower business, selling bunches and wreaths in a rented space in the market. Suren’s younger son has already graduated and now helps his father in the business.

Suren used his first loan to buy a car for his business and his second loan to buy flowers and accessories for his flower trading business. Suren is requesting his third loan for 1,000,000 AMD, which he will use to buy a large lot of roses, pinks, lilies, irises, chrysanthemums, and other flowers from greenhouses as well as buy different accessories for his business.

Previous Loan Details

Suren is 51 years old. He lives in Vanadzor city with his wife and two sons. For about 23 years he has been engaged in the flower trading business: he sells bunches and wreaths in a rented place at a large market. Thanks to his business income, he can support his family and also pay for his sons’... More from Suren'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
  • 103
    View loans »
    Armenia Loans Fundraising
  • $13,505,475
    Funds lent in using Kiva
  • 407.1
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,475 helped Suren to purchase flowers from greenhouses and different accessories for his business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 15, 2012
Listed
Oct 23, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2014