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Mushegh

Update on Mushegh

Mushegh lives in Vanadzor with his family. He is married, and he has a school-aged son. It has been ten years since Mushegh first engaged in his jewelry making and designing business. He has a small separated workshop in his house where he spends time working there most of the day. Mushegh makes different jewelry such as rings, earrings, bracelets, and necklace. He also takes private orders.

This will be Mushegh’s second loan from Kiva. The first one has helped him greatly, and he managed to buy some necessary materials for his business.
This time Mushegh is asking for a loan of 900,000 Armenian drams in order to buy gold and some precious stones since he has already designed some jewelry and he has models of some new fashionable jewelry, the sale of which, he is sure will bring decent income.

Previous Loan Details

Mushegh is 41 years old. He lives in Vanadzor city with his retired mother, jobless wife and young son, who studies at school. Mushegh has re-equipped one room of his house into a workshop where he engages in jeweler’s art. He sells the jewelry he produces to a jeweler’s shop and he also he fu... More from Mushegh'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 http://www.kiva.org/team/armenia.

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.

Tags

About Armenia

  • $6,300
    Average annual income
  • 152
    View loans »
    Armenia Loans Fundraising
  • $13,802,050
    Funds lent in using Kiva
  • 405.8
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,225 helped Mushegh to buy gold and some precious stones.
78% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 30, 2013
Listed
Nov 3, 2013
Currency Exchange Loss:
Possible