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Ara
Ara is 24 years old and he doesn't have a very usual or pleasant job, but anyway it is the only source of income for his new-built family. Ara makes samplers for funeral wreaths in a small room on the first floor of their house, which serves as a workshop for him.

He has been engaged in this work for four years. The needed materials for the wreaths Ara buys from the local hardware shops and the ready product he sells to the owners of flower shops. Ara and his wife, retired mother, and a son live in the small city of Vanadzor. Ara needs a little support in his business, in order to buy some row materials and he asks a loan of 150,000 Armenian Drams for that purchase.

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.

To stay updated on loans from Armenia, please join the Armenia lending team at http://www.kiva.org/team/armenia.

Tags

About Armenia

  • $6,400
    Average annual income
  • 92
    View loans »
    Armenia Loans Fundraising
  • $12,398,500
    Funds lent in using Kiva
  • 417.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Ara to buy some raw materials for wreath making.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 18, 2013
Listed
Jun 21, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014