Update on LarisaThis is Larisa's second loan with Kiva. She is still engaged in the agricultural business with her husband in the village of Tsakhkunk, which is in the Sevan area. Her first loan really helped her to overcome some difficulties with her farm - she bought a lot of fodder for her animals as well as two calves, and has received a good profit. She also continues to grow wheat in her plot of land and sell it to re-sellers. Larisa’s family members are hardworking people and they have never avoided the difficulties that are in the agricultural business.
Larisa decided to increase the number of her sheep and to repair the barn for the animals. For that she asks for a second loan from Kiva and hopes that this new loan will have the same success for her as the previous one.
Previous Loan DetailsLarisa is 42 years old. She lives in Tsakhkunk village, Sevan area, with her husband, who works as a cook at restaurant and her father, who is a retiree. Larisa’s daughter is married and lives separately from her parents, and her son is serving in Armenian army. Larisa is a Russian teacher and she… More from Larisa'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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This loan has been fully funded!