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Update on Spartak

Young businessman Spartak is still engaged in his lavash (Armenian bread) production and food shop managing.

With the first loan from Kiva, Spartak bought some circulating assets for his bread production. His business is going well and enlarged after Kiva lenders' support. His bread production profit allowed him to start a new agricultural business in his village of Tsovagyugh, which is in Sevan area. Spartak and his father built a barn for animals and started their new farming business.

Spartak breeds cows, bulls and sheep in his farm. Spartak says that it is too hard to be engaged in bread production and farming at the same time, but with his father's help, he does his best in order to enlarge and increase his newly created farm.

This time Spartak needs a loan of 1,000,000 Armenian drams to buy two cows and a young calf and hopes to receive a good profit from farming. Spartak is sure that this second loan will have the same success for him.

Previous Loan Details

Spartak T. is 22 years old. He lives in Tsovagyugh village, Sevan area with his jobless father. Spartak has а higher education and he works as an agronomist at Tsovagyugh village administration. At the same time, he has his own businesses: lavash (Armenian bread) production and food shop managing... More from Spartak's previous loan »

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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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.


About Armenia

  • $6,300
    Average annual income
  • 105
    View loans »
    Armenia Loans Fundraising
  • $14,006,425
    Funds lent in using Kiva
  • 417.2
    Armenia Drams (AMD) = $1 USD
A loan of $2,400 helped Spartak to buy two cows and a young calf.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 26, 2013
May 27, 2013
Currency Exchange Loss:
Jun 26, 2013