Update on SamvelSamvel is still engaged in clothing. He has more than 16 years experience in this occupation.
He wants to take a loan from Kiva for the second time, as the first loan he has taken helped him very much to develop and enrich his business. In his business Samvel’s wife helps him very much. She also works in the local school as a teacher.
As usual, all the needed clothes for selling Samvel brings from Yerevan wholesale markets, transporting them by rented car. During his long time in the trading business, Samvel has gained a lot of regular clients who prefer to buy women clothes from Samvel’s stall, as his merchandise is always renewed and more available for people who have low income. Thanks to his trading Samvel is able to meet his family needs and pay for his daughter’s training courses.
Samvel needs a loan amount 900,000 Armenian drams to buy an assortment of new spring/summer women's clothes from Yerevan to resell in his stall in Vanadzor. Samvel hopes that this loan would have the same success as the last one did.
Previous Loan DetailsSamvel is 59 years old and lives in Vanadzor City with his wife and a daughter. Samvel works at a school as a watchman, his wife works at the same school as a teacher, and his daughter works at a disk shop as a shop assistant. Samvel says that their salaries aren’t enough for maintenance ... More from Samvel'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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