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Update on Armen

Armen has just repaid his first Kiva loan, which was very useful and productive both for his business and his large family. He managed to buy brake shoes, headlights, engine oil, paint, instruments, etc. for his store.

His elder son still lives with them; his second son and daughter already have children. His beloved wife continues to works at the library. Armen runs his business in his native city of Kapan where he has lived since he was born.

For some time Armen worked at a rented shop, but finally he managed to buy his own shop. Now he has a shop that is not very big, but very comfortable and suitable for his business. Here he sells spare parts for cars and the assortment is very large.

This time Armen requests a loan of 700,000 AMD in order to do some repairs to his shop and renew the assortment spare parts.

Previous Loan Details

Armen is fifty-five years old; he was born in the city of Kapan. After graduating high school, he enrolled in Kapan's construction college. Armen is married and has three children: two sons and a daughter. His oldest son is unemployed and lives with his parents; the younger son and daughter liv... More from Armen'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
  • 100
    View loans »
    Armenia Loans Fundraising
  • $14,006,425
    Funds lent in using Kiva
  • 407.5
    Armenia Drams (AMD) = $1 USD
A loan of $1,725 helped Armen to repair his shop and renew the assortment of spare parts.
Repayment Term
32 months (Additional Information)
Repayment Schedule
Sep 4, 2013
Sep 28, 2013
Currency Exchange Loss:
Oct 28, 2013