Update on AghabekAghabek and his wife live in the village of Tsakhkunk, located in the Gegharkunik region, where they are very experienced in farming and agriculture. Their children are married and live with their families separately.
Despite his age, Aghabek is full of energy, and plans to enlarge his farm, where he breeds cows, sheep, horses and chickens, This will be Aghabek’s fourth loan from Kiva. His previous loans, fully repaid, helped him to buy a truck, calves for his farm, and animal fodder; this time he plans to buy piglets and a cow. Aghabak also continues to sell meat and wool since his farm products, especially his clean and snow-white sheep-wool, are well known around their village.
Aghabek will be greatly touched and happy if Kiva lenders again support him. He promises to be responsible and punctual in his repayments, just as he has been in the past.
Previous Loan DetailsAghabek and his family are still engaged in farming. This is third loan from Kiva for Aghabek. Thanks to his previous Kiva loans, Aghabek enlarged his animal-breeding business. He breeds cows, sheep, horses and chickens on his farm. His wife helps him in this occupation very well, and they bo... More from Aghabek'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.
To stay updated on loans from Armenia, please join the Armenia lending team at http://www.kiva.org/team/armenia.
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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Success!! The loan was 100% repaid