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Norayr lives in Kapan, with his wife and three children. He repairs cars, and his specialty is body work. Now he does his work in a small, rented garage. He also has an apprentice, to whom he teaches all the skills of auto body work. His wife is unemployed, so Norayr's is the only income for their family. The family's needs are far more than the monthly income from his work.

Norayr is so skilled in his work that he buys worn out, old cars and manages to repair, paint, and sell them at convenient prices. He also offers car washing services. Norayr works very hard and without taking off any weekends, but nevertheless his family is short of money. He asks a loan of 1,000,000 Armenian drams. He will use the loan to buy old cars, which he will repair and resell later, for profitable prices.

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
  • 136
    View loans »
    Armenia Loans Fundraising
  • $14,910,275
    Funds lent in using Kiva
  • 417.2
    Armenia Drams (AMD) = $1 USD
A loan of $2,400 helped Norayr to buy worn out cars and repair them, to resell.
Repayment Term
38 months (Additional Information)
Repayment Schedule
May 22, 2013
Jun 27, 2013
Currency Exchange Loss:
Jul 27, 2013