Update on VaheVahe is still running a clothes trading business in the rented place. Thanks to his business’ income, Vahe is able to keep his family. Also, he bought furniture and home appliances for his apartment.
Vahe used his previous Kiva loan to buy an assortment of clothes to resell. Now he is seeking $3,000 to buy a lot of winter clothes: sweaters, blouses, jackets and trousers for his business before New Year’s holidays, when the trading is very active.
Previous Loan DetailsVahe is 40 years old and lives with his wife, a daughter and a son in Yerevan. Vahe’s wife stays at home and takes care of their children who are pupils. Vahe has a high education in the economics sphere but he has never worked in any organization. For more than 17 years, he has been engaged in ... More from Vahe'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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