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Sargis
Sargis is 56 years old and lives in Yerevan, with his wife and two sons. Sargis has completed only secondary school. He was dreaming of becoming an engineer and studying in the State Engineering University. But, after his service in the Soviet Army, Sargis got married. Soon his first son was born. So, Sargis started to work as a laborer in one of the factories in Yerevan, in order to sustain his newly-created family.

After the Soviet Union collapsed, that factory closed. Sargis started to work as a driver. But about 10 years ago, Sargis and his sons launched their own business, in a rented place. They sell flowers and bouquets in the store. This business was profitable, and soon they increased sales volume. This activity enables them to provide for their family's needs. With their business profit they bought a new flower shop. Sargis is very pleased by his activity. As he confessed, to work with flowers and other plants is a great pleasure for him, and he combines business with pleasure.

Recently, Sargis decided to begin fruit and vegetable trading, outside of his flower shop. It will be a seasonal business, but at the same time, profitable. So Sargis needs a 600,000 Armenian Drams loan, which he will use to buy potatoes, apples, cucumbers, tomatoes and pears, for his newly-created food trading. Sargis will use the anticipated profit for organizing his son's wedding.

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.

About Armenia

  • $6,400
    Average annual income
  • 112
    View loans »
    Armenia Loans Fundraising
  • $12,677,975
    Funds lent in using Kiva
  • 418.1
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Sargis to buy potatoes, apples, cucumbers, tomatoes and pears, for his newly-created business line, trading fruits and vegetables.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 5, 2013
Listed
Apr 5, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014