Update on RuzannaRuzanna lives with her family in Bargushat village which is in Syunik Province near Kapan. For 33 years, she has farmed and during these years she and her husband have made their farm bigger and richer. They have five cows, three calves, 12 chickens, 12 sheep, six goats and 10 turkeys. Ruzanna also has rented land which serves as a pasture and a piece of private land where she cultivates vegetables and fruits.
Ruzanna is an interesting as besides all this work that she is doing at her farm she also works as a librarian at the Kapan library. All the products that Ruzann has from her farm she sells at the Kapan and Kajaran wholesale markets.
Ruzanna has a great practice of cooperation with Kiva lenders and this is the third loan that she wants to take. She is sure that the third loan, in an amount of 1.000.000 Armenian drams for buying three cows, will be as profitable as the first and the second ones.
Previous Loan DetailsRuzanna M. was born in 1957 and lives with her family in Bargushat village, Kapan area. She has six children: four daughters and two sons; five of them are already married and live separately from their parents. Ruzanna works in her village as a club manager. At the same time she and her… More from Ruzanna'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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