Update on GurgenThe name of this blithe and kind man is Gurgen, and he is again very happy to deal with Kiva lenders and this field partner, Nor Horizon, for the third time.
Gurgen lives in Ddmashen village, in the Sevan area, with his mother, his wife and two sons. He is a farmer and remains the only breadwinner in his family. The last loan helped him greatly, for he has enlarged the number of his farm animals and increased his family income as well. Slowly but surely he goes ahead in his farming activities.
Compared to previous years, he now manages to sell dairy products right from his house, since his wife makes cheese and butter. Every little achievement gives positive results and also comes to somehow lighten the financial problems of his family.
By the support of Kiva lenders, Gurgen hopes to buy a cow and animal fodder, and he promises that in the near future he will again inform us about his successes in farming.
Previous Loan DetailsGurgen is 39 years old; he lives in Ddmashen village, Sevan area, with his mother, his wife and two under-age sons. Over 15 years Gurgen has engaged in farming: animal breeding and land cultivation. On his farm he rears cows, sheep and chickens. Gurgen’s wife and mother, who is already a pens... More from Gurgen'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!