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Update on Rafik

Rafik is still engaged in the fruits and vegetables trade business. With his previous loan from Kiva Rafik added to his fruit and vegetable assortment. He received a good profit which helped him to support his family's needs and to develop his business during this period. Now Rafik has a lot of regular customers which prefer to buy fruits and vegetables from Rafik’s stall because his fruits and vegetables for trade are fresh and affordable.

Rafik expanded his trade and hopes to increase the number of his stalls in Sevan’s markets. Rafik asks from Kiva a 500.000 AMD loan to buy a large assortment of fruits and vegetables for reselling; especially citrus and tropical fruits for the New Year's holidays.

Previous Loan Details

Rafik was born in 1960. He lives in Sevan with his wife. His three children, two sons and a daughter, live separately from their parents. Rafik is a locksmith and worked as a worker for many years. But since 1992, Rafik and his wife have been engaged in the fruits and vegetables trade. Every... More from Rafik'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
  • 135
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 404.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Rafik to buy a large assortment of fruits and vegetables for reselling; especially citrus and tropical fruits for the New Year's holidays.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Dec 7, 2012
Dec 25, 2012
Currency Exchange Loss:
Jul 17, 2014