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Update on Albert

This is already Albert’s second loan with Kiva lenders and he is sure that it will be as productive as the first one. The village Dddmashen, where he and his family continue to live, is in Gegharkunik region. For several years, Albert used to live and work in Russian Federation, but after coming back and getting married, he continues to live in his beloved and sunny village. He lives with his retired mother and his wife, who is teacher of physics (but at this moment she does not work and takes care of their two little children). For three years, Albert has worked at the Sevan bread factory as a baker, but farming and agriculture remain the main source of income for his family. He owns a plot of land, five bulls, and thirty sheep. He also cultivates tomatoes, cucumbers and greens for his family's use.

Albert needs a loan to buy a lot of animal fodder as well as to buy several sheep, which will bring him good profit in the next year.

Previous Loan Details

Albert is 39 years old. He lives in the village of Lchashen, in the Gegharkunik region, with his mother, his wife and two young daughters. Albert's mother is an invalid, and his wife teaches at a rural school, but at the moment is on maternity leave. After graduating from high school, Albert liv... More from Albert'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
  • 126
    View loans »
    Armenia Loans Fundraising
  • $14,833,500
    Funds lent in using Kiva
  • 411.8
    Armenia Drams (AMD) = $1 USD
A loan of $2,200 helped Albert to buy a lot of animal fodder as well as to buy several sheep, which will bring him good profit in the next year.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 11, 2013
Jul 13, 2013
Currency Exchange Loss:
Aug 12, 2013