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Update on Hamlet

Hamlet and his family live in Ijevan in the Tavush region. Hamlet is married and has two sons who are school-aged. For 26 years, Hamlet has engaged in the repair and sale of watches. He rents a small place for his work where he simultaneously exhibits and sells watches. His workshop is very well-known in his city. His shop is highly visited by students and pupils as well, especially in the months of September and October.

Hamlet has an unbelievably rich credit history: 12 loans perfectly paid back to Nor Horizon. This will be the fourth deal with Kiva lenders. Hamlet asks a loan of 1,000,000 Armenian drams (AMD) in order to buy different types of watches for sale, as well as some equipment for his repair work.

Previous Loan Details

Hamlet is continuing with his watch repairing and selling business. He likes his occupation very much and he has followed his vocation for a quarter of a century. Thanks to his business, Hamlet is able to provide for his family. Hamlet used his second Kiva loan to buy watches, spare parts and... More from Hamlet'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.

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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.


About Armenia

  • $6,300
    Average annual income
  • 121
    View loans »
    Armenia Loans Fundraising
  • $14,377,525
    Funds lent in using Kiva
  • 408.1
    Armenia Drams (AMD) = $1 USD
A loan of $2,475 helped Hamlet to buy different types of watches for sale and some equipment for his repair work.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 20, 2013
Oct 21, 2013
Currency Exchange Loss:
Nov 20, 2013