Check out some available loans that are similar to this one!
Samvel

Update on Samvel

Samvel is a skilled carpenter. He is still engaged in the production of doors, furniture and souvenirs from wood, which he performs in a workroom in his house.
Samvel sells souvenirs in one of the famous souvenir shops in Vanadzor city, and sells doors and furniture in a building materials shop in Vanadzor city. Samvel works also works as a carpenter for various enterprises.

Samvel is 51 years old and lives with his wife and two sons. Both of them attend Yerevan State Medical University and are promising students. Samvel is very proud of them. Samvel has worked as a carpenter many years. He loves his profession and works with great pleasure. Samvel has a good reputation not only in Vanadzor city, but also in whole Lori Region.
Due to his occupation he is able to sustain his family. With his first loan from Kiva he bought a large amount of ceramic dish-ware, so he expanded his business volume.
Now Samvel is seeking a loan of 1,000,000 Armenian Drams in order to buy more wood so that he can expand his business. His big dream is to create his own big manufacturing company in Vanadzor city.
View original language description ↓
Samvel is a skilled carpenter. He still engaged in production of doors, furniture, souvenirs from wood, which he performs in separated workroom in his house.
Souvenirs Samvel sells in one of the famous souvenirs shop in Vanadzor city, doors and furniture in building materials shop in Vanadzor city. Samvel works also in enterprises in Vanadzor city as a carpenter.
Samvel is 51 years old and lives with his wife and two sons. Both of them study in Yerevan State Medical University and are promising students. Samvel is very proud of them. Samvel works as a carpenter many years. He loves his profession and works with great pleasure. Samvel has a good repute not only in Vanadzor city, but also in whole Lori Region.
Due to his occupation he is able to sustain his family. With first loan from Kiva he bought large amount of ceramic dish-ware, so he expanded his business volume.
Now Samvel is seeking 1,000,000 Armenian Drams loan to buy more wood in order to expand his business volume. His big dream is to create his own big manufacturing company in Vanadzor city.



Previous Loan Details

Samvel is 50 years old. He lives in the town of Vanadzor. Samvel's wife works as a teacher at a secondary school, oldest son attends the Yerevan State Medical University, and the youngest son attends school. Samvel has been involved in carpentry for over 10 years. He re-purposed one of the… More from Samvel'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
  • 87
    View loans »
    Armenia Loans Fundraising
  • $12,645,800
    Funds lent in using Kiva
  • 414.2
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,425 helped Samvel to buy more wood in order to expand his business volume.
94% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 1, 2013
Listed
Mar 29, 2013
Currency Exchange Loss:
Possible