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Martun
Martun is 62 years old and lives with his wife, son, and daughter-in-law in Vanadzor City. He has the title of docent of chemical science and works in Vanadzor State Pedagogical University as a lecturer-scientist. He has written many scientific articles, monographs, reports, theses, and methodical works. But as science in Armenia was in crisis after the Soviet Union's collapse, scientists got very low salaries, and there was no opportunity to do research, Martun faced lots of difficulties, like many Armenian scientists. He couldn't maintain his family's living standard or posture. So creating his own business was the only way for Martun to overcome that hard period.

He built a small shop in his garden and started to sell vegetables and fruits at first. This deal was successful, and soon Martun enlarged his assortment of products (confectionery products, dairy products, spices, candies, nonalcoholic drinks, oil, meat, etc.). Now his business is going very well and Martun is able to meet his family's needs. Martun’s son helps him greatly in this occupation.

Martun needs 1,000,000 Armenian drams to add inventory. He intends to give his food market business to his son and fully involve himself in science, as he says that science is his main vocation.

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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About Armenia

  • $6,300
    Average annual income
  • 152
    View loans »
    Armenia Loans Fundraising
  • $13,747,675
    Funds lent in using Kiva
  • 418.1
    Armenia Drams (AMD) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,400 helped Martun to add to his inventory of food products.
99% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 7, 2013
Listed
Mar 30, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2015