Update on VazgenVazgen is still engaged in selling vegetables. His parents are very old and pensioners, which is why he has had to work hard to sustain his family.
For over twenty years Vazgen has plied his trade in Ijevan Central Market. His profits have enabled him to buy furniture for his home and a car. At first he was selling only cucumbers and potatoes. Then he expanded to various other kinds of vegetables such as tomatoes, cucumbers, zucchini, pumpkins, peppers, eggplant, green beans, etc. He sells from the back of his car.
Now Vazgen is applying for a 650,000 AMD loan from Kiva lenders through Nor Horizon to start selling fruit. He expects more in profits from this deal. He will use the anticipated income on his house, which has not seen any repairs in more than 25 years.
Previous Loan DetailsVazgen was born in 1976. He lives with his pensioner parents and his wife in Ijevan city. Vazgen’s wife works at the Ijevan kindergarten as a teacher. Since 1995 Vazgen has been engaged in a vegetables trade business. He buys vegetables from the nearest villages and resells them in the Ijevan… More from Vazgen's previous loan »
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.
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.
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