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Marine

Update on Marine

Marine is still running her bakery, which she has been managing during the past nine years. Thanks to her business, Marine provided for her family, paid for her children’s education and organized her elder daughter’s wedding.

Marine used her previous Kiva loan to buy a small truck for her business. Now she is asking for a 1,100,000 AMD (Armenian dram) loan to buy a lavash (traditional Armenian bread) baking stove. This stove will allow Marine to diversify her bakery assortment and thus attract more customers.

Previous Loan Details

Marine G. lives in Ijevan city. She is married and has two children. Marine works at Ijevan city administration, and at the same time she runs her own bakery, which is on the ground floor of her house. With the profits from her business, Marine takes care of her family and pays for her daughters’... More from Marine'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

  • $6,300
    Average annual income
  • 152
    View loans »
    Armenia Loans Fundraising
  • $13,802,050
    Funds lent in using Kiva
  • 409.5
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,700 helped Marine to buy a lavash (traditional Armenian bread) baking stove.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 7, 2012
Listed
Nov 14, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014