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Yervand

Update on Yervand

Yervand, a rescue worker employed by the Emergency Situations Ministry, parallel to his work, is still engaged in farming and animal breeding in Tsovagyugh village, which is in Sevan area. Yervand breeds cattle, chickens and bees. Last loan from Kiva helped Yervand to buy 5 beehives, and he obtained a good profit from selling honey. Yervand has received a higher education degree in the field of economics in rural areas, which helps him in his agricultural business.

This year Yervand started raising rabbits on his farm. Rabbit-breeding too is hard work, but it is new in their region, and he discovered that it is a good new business which will bring him a good profit. For over 3 months, Yervand learned and read a lot of information about rabbit breeding and decided to launch this activity on his farm. This is a second loan from Kiva for Yervand . This time Yervand asks from Kiva lenders a loan to construct a barn for his rabbits and to buy 20 young rabbits for his new rabbit-breeding business.
View original language description ↓
Emergency Situations Ministry's rescuer Yervand parallel to his work is still engaged in farming and animal breeding in Tsovagyugh village which is in Sevan area. Yervand breeds cattle, chickens and bees. Last loan from Kiva helped Yervand to buy 5 beehives and he received good profit from honey selling.
Yervand has a higher education in the field of economy in rural sphere and this fact helps him in his agricultural business.
This year Yervand started raising rabbits on his farm. Rabbit breeding is too hard work but it is new in their region and he discovered that it is a good new business which will bring him a good profit. More than 3 months Yervand learned and read a lot of information about rabbit breeding and decided to run this activity in his farm.
This is second loan from Kiva for Yervand . This time Yervand asks from Kiva lenders a loan to construct barn for his rabbits and to buy 20 young rabbits for his new created rabbit breeding.

Previous Loan Details

Yervand is 44 years old. He lives in the Tsovagyugh village in the Sevan district with his wife and a 14-year-old son. Yervand graduated from the Yerevan agricultural institute. After receiving his economist diploma, he spent 8 years working as an economist at the Sevan office of one of Yereva... More from Yervand's previous loan »

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.

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.

About Armenia

  • $6,400
    Average annual income
  • 127
    View loans »
    Armenia Loans Fundraising
  • $12,884,550
    Funds lent in using Kiva
  • 415.3
    Armenia Drams (AMD) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,950 helped Yervand to construct a barn for his rabbits and to buy 20 young rabbits.
98% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 9, 2013
Listed
May 15, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015