Update on RobertRobert is 35 and lives in Ijevan with his wife and small son. Since 1996 he has been engaged in the trading business which brings good income for his family. They managed to do some repairing around their house and they have also managed to buy furniture for their guestroom. Robert has a small rented stall at Ijevan central market, which is well known since he has clothes of big sizes and kids’ clothes as well. Robert has taken a loan from Nor Horizon for the ninth time and it is his third one from Kiva. All of them he has paid back successfully. This time he decided to cooperate with Kiva lenders again and he asks a loan of 1,100,000 Armenian drams to buy a new summer clothes collection to enlarge the assortment in his stall. He hopes that his third deal with Kiva will have the same success as the last ones.
Previous Loan DetailsRobert is 33 years old. He lives with his pensioner parents and his wife in Ijevan City. Since 1996, Robert has been engaged in a clothes trading business with his mother. He rents a stall in the clothes market in Ijevan City. Robert buys clothes in wholesale markets in Yerevan and resells the... More from Robert'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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