Update on ArtakArtak is very happy to have a reliable and experienced partner like Kiva, with whose help he can easily overcome any difficulties. Artak is married and he lives with his wife, three school-aged children and his parents. His family helps him very much and it is obvious that group work always gives good results. He and his family are busy both in farming and in agriculture. They successfully sell potatoes planted in their garden, since they have sowed the best grades of it. Artak also breeds cows, sheep and a pig in his farm. The income from the sale of milk and meat is a great help for his family as well.
Artak asks for a loan from Kiva not for the first time and he surely knows how to use it according to the purpose. With the loan, Artak plans to buy potato seedlings and fertilizer for his farm and he really hopes to receive good profits.
Previous Loan DetailsArtak M. is 37 years old, and lives in Geghamavan village with his extended family, which includes his parents, wife and three school-aged children. He used to work in a machine-building plant, but has since 1998 made a living by breeding livestock and farming. His wife and his parents help him -... More from Artak'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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Success!! The loan was 100% repaid