Update on AghabekAghabek and his family are still engaged in farming. This is third loan from Kiva for Aghabek.
Thanks to his previous Kiva loans, Aghabek enlarged his animal-breeding business. He breeds cows, sheep, horses and chickens on his farm. His wife helps him in this occupation very well, and they both are working hard day and night in order to sustain their family.
As Aghabek confessed, he is a pensioner and couldn't find a job, and he is very happy that with the profit from his farming, he is able to meet his family needs and help his children, who are married and live with their families separately from their parents.
As the number of Aghabek’s animals has enlarged, he needs to buy a lot of fodder for them and transport it to his farm by his own vehicle, which he has bought with his last Kiva loan. For this, Aghabek asks from Kiva a loan of 300,000 Armenian drams.
Previous Loan DetailsAghabek is 62-years-old and lives in Tsakhkunk village in the Sevan area with his wife. Aghabek’s children are married and live separately from their parents. For a long time, Aghabek worked at a state-owned cattle farm as a farm worker. Aghabek and his wife have been farming for over 18 year... More from Aghabek'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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