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Varsenik is 52 years old and lives in Ijevan city with her husband and three children. She graduated from the State Medical College and for many years worked as a nurse in one of the schools in Ijevan city. Because her salary was low, Varsenik and her husband decided to create their own business. In 1995 they began selling clothing from a rented stall. This activity was profitable for them and soon they expanded into selling flowers, which was also successful. Varsenik and her husband are very pleased, because they can now provide for their family needs, including education. They have also bought some furniture and a car and paid for their children's wedding. Varsenik is seeking a loan from Kiva lenders to buy new spring-summer seasonal clothes from wholesale markets in Georgia and Yerevan which she will sell in her stall in Ijeva.

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.

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About Armenia

  • $6,300
    Average annual income
  • 134
    View loans »
    Armenia Loans Fundraising
  • $14,328,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $3,000 helped Varsenik to buy spring and summer clothing to sell to her customers.
77% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Mar 12, 2013
Apr 8, 2013
Currency Exchange Loss: