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Mnatsakan is 52 years old. He lives in Yerevan city with his small family. Mnatsakan is married and has a son who is already a student. Mnatsakan’s wife is unemployed and she is a housewife, so the only source of income for the family is Mnatsakan’s salary. At this moment, he works as a watchman at a private workshop. He has also worked for several years as a construction worker. For a long time, Mnatsakan has dreamed of owning a car, but each time, there was something that interfered so he could not realize his great wish.
Mnatsakan managed to save some money during these years, but it is still not enough so he asks for a loan of 1,000,000 Armenian dram in order to buy a car. The car would be of great use to both he and his son.

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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About Armenia

  • $6,300
    Average annual income
  • 104
    View loans »
    Armenia Loans Fundraising
  • $14,006,425
    Funds lent in using Kiva
  • 405.9
    Armenia Drams (AMD) = $1 USD
A loan of $2,475 helped Mnatsakan to buy a car that he and his son can use.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 16, 2013
Nov 12, 2013
Currency Exchange Loss:
Jan 11, 2014