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Update on Karine

Karine is 54 years old and lives in Ijevan city. She is married and has three daughters who are already married and live separately. She has a specialty of accounting, and for many years she has worked as a teacher of accountants, then as an economist, and in different companies she has kept accounts.

Now Karine is still running a clothing and shoe trading business.

She lives alone (her husband is in the Russian Federation for an abroad work) and manages her business alone, but she is doing it perfectly. Karine sells children's, men's and women's clothes, shoes, and slippers. Karine works at the clothes wholesale market at a rented stall, and brings the products for sale from Yerevan on a rented car. She mentions that her business has helped her very much (she has managed to pay for her daughters educations and organize wedding parties).

This is the fourth deal with Kiva, and this time Karine asks for a loan of 400,000 Armenian drams to buy new autumn-winter shoes and clothes collection. She hopes very much that, like her previous loans, it will be of great help and profit to her business and family.

Karine also is very cute and responsible client for Nor Horizon. Since she has taken loans already thirteen times, she has never been late for her loan schedule.

Previous Loan Details

Karine is still running a clothing and shoe trading business. She sells not only adult’s clothes and shoes but also clothes and shoes for children. Karine says that now her husband and her son-in-law live in Russia, so she manages her business by herself. Thanks to her business’s income she pro... More from Karine'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.

To stay updated on loans from Armenia, please join the Armenia lending team at

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
  • 125
    View loans »
    Armenia Loans Fundraising
  • $14,072,150
    Funds lent in using Kiva
  • 407.7
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Karine to buy new autumn-winter shoes and clothes collection.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 8, 2013
Sep 11, 2013
Currency Exchange Loss:
Sep 17, 2014