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Artak lives in the very nice city of Ijevan, with his retired parents, his wife, and their two daughters, who are still school-aged. For many years Artak has worked at the Ijevan Forestry as a forester, and simultaneously, he and his parents are engaged in farming and agriculture. Nevertheless, the income from both his forestry job and farming is not enough for his family's needs. That is why Artak periodically goes to the Russian Federation for work abroad, because he needs to somehow enlarge his family income.

In his farm, Artak cares for six cows, four heifers, five calves and twenty-five chickens. He also, together with his parents, cultivates their plot of land. They raise vegetables, and fruit and nut trees (e.g., apple, pear, plum, and hazelnut). They perfectly manage to sell products of their farm, including dairy products, eggs and fruits. With the income earned by farming, Artak has already bought some furniture for the house.

Now Artak wants to start a beekeeping business. Therefore, he asks for a loan, with which he will buy ten bee hives and some animal fodder. He hopes very much that this loan will surely enlarge his family income, and improve their living conditions.

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
  • 128
    View loans »
    Armenia Loans Fundraising
  • $14,869,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $3,000 helped Artak to buy ten bee hives for a new beekeeping business, and some animal fodder for the cows.
74% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Jun 26, 2013
Jul 29, 2013
Currency Exchange Loss: