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Astghik is 64 years-old. She is a pensioner and lives with her husband in Kapan city. She has two daughters and a son which are all married and who live with their families separately.

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.

Additional Information

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.

For more information about “Nor Horizon,” please visit the partner page or website.

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About Armenia

  • $6,300
    Average annual income
  • 127
    View loans »
    Armenia Loans Fundraising
  • $14,836,500
    Funds lent in using Kiva
  • 417.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Astghik to buy a summer clothes assortment for her stall.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 25, 2013
May 27, 2013
Currency Exchange Loss:
May 18, 2014