Pensioner’s stipends in Armenia are very low and Astghik and her husband have to work in order to sustain their family. Since 2008, Astghik and her husband are engaged in a clothing business. They rent a stall in the Kapan clothes market and they sell children and women's clothes which they buy from Yerevan clothes wholesale markets once a month. Astghik is very happy that she is able to meet her family needs and help her children with her business income.
This is the first deal with Kiva for Astghik and she asks for a loan of 600.000 Armenian drams in order to buy a summer clothes assortment for her stall in Kapan. She hopes that with Kiva lenders support she will receive good profits.
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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Success!! The loan was 100% repaid