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Harutyun

Update on Harutyun

Harutyun is still engaged in his mixed products business. He added more products to his inventory and, step by step, his business is going up. Thanks to his profits, Harutyun can provide for his family and help his jobless brother. He now has a lot of regular customers who prefer to buy pipes, wire rope, water valves, pitchforks and many other house repair products from him. This has led Harutyun to enlarge his rental stall and to increase his products.
Harutyun needs a loan of $2,500 US to buy lots of goods such as pipes, wire rope, water valves, pitchforks, etc. for his shop.

Previous Loan Details

Harutyun was born in 1985 in Armavir city. But for already eight years now, he and his family have lived in Yerevan. Harutyun is not married and he lives in an apartment of his near relations with his retiree mother, brother and his jobless sister-in-law. For more than five years Harutyun has... More from Harutyun'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
  • 129
    View loans »
    Armenia Loans Fundraising
  • $12,884,550
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Harutyun to buy lot of goods such as pipes, wire rope, water valves, pitchforks, etc. for his shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 20, 2012
Listed
Dec 27, 2012
Currency Exchange Loss:
N/A
Ended:
Jan 17, 2015