Update on AlbertAlbert is 47 years old. He was born and lives with his family in Vanadzor city. Albert is married and has two sons. One son is a student at Yerevan State Economical University and lives in Yerevan. Albert's family is engaged in agricultural business and farming in Vanadzor city.
For many years Albert, himself, has been a butcher (meat-man). He rented a stall in a Vanadzor food market and sells meat and meat products. Twice a week, Albert buys meat from farmers and wholesale markets in Lori Province, and he resells it in his stall in Vanadzor food market. With the profits from his meat trading, Albert meet his family's needs and pays his son's tuition fees.
Albert has a big dream, to organize his own cattle breeding and to sell meat from his own farming. He has a plot of land near his house, and he decided to construct a barn for animals. For realization of his dream, he knows that he must work hard and accumulate money. Now, Albert needs to borrow 1,000,000 Armenian drams. He will use the loan to buy a large amount of meat from wholesale markets to resell, and three piglets with which to begin his animal breeding activity.
Previous Loan DetailsAlbert A. is 44 years old and he lives in Vanadzor city with his wife and two sons: one of them is an elementary school pupil, and another is a student. For about 20 years Albert has been managing his butcher shop, which he runs in a rented space at Vanadzor central food market. With profit from ... More from Albert'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.
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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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This loan has been fully funded!