Update on FrunzeFrunze with his nice family lives in the village of Geghamavan which is in the Ghegharkunik region. He is a very skilled farmer and runs his farming perfectly and with decent income. Frunze has already once received a loan from Kiva that helped him to buy potato seedlings and fertilizer. The season's harvest was perfect, and he organized the sale of his products quickly and received a good income.
Frunze has farm animals (cows, bulls, calves, piglets, and twenty-five beehives) and a plot of land on which he mainly cultivates potatoes, the growth of which are perfectly suited to this region. Frunze’s family income comes from the sale of his farm products, such as milk, cheese, meat, potatoes and honey.
This time Frunze has decided to ask a loan for the increase of his farm livestock and beehives, and for this he needs a loan in an amount of 1,000,000 AMD (Armenian drams).
Previous Loan DetailsFrunze, who is 65 years old, lives in Geghamavan village, an area of Sevan, with his wife and his son. His son works as an electrician and Frunze’s wife is housewife. Frunze graduated from Yerevan Polytechnic Institute in the chemical industry department and for many years, he worked as a… More from Frunze's previous loan »
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.
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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.
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This loan has been fully funded!