Update on HarutyunHarutyun, who lives in Lchashen village in Gegharkunik region, again wants to have a deal with Kiva lenders. He is sure that the deal will be as productive as the previous one. The last one helped him in the purchase of animal fodder and potato seedlings. This new one, he needs in order to buy several cows and animal fodder, because he plans to enlarge his farm. In farming, Harutyun’s wife helps him very much. Their daughters have grown up, and they, also, have become perfect helpers for their father in farming and agriculture. All of them, together, breed cows, sheep and chickens, and cultivate potatoes. They are happy to work hard and have a result -- good income and better living conditions for their family.
Previous Loan DetailsHarutyun H. is 37 years old; he lives in Lchashen village, area of Sevan. He is married with two school-age daughters and his wife stays home to take care of them. At different times Harutyun has worked as a taxi driver and as a businessman. He moved to Russia to make more money, but then ret... More from Harutyun'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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Success!! The loan was 100% repaid