Update on GagikGagik lives and works in Kapan city, which is in the Syunik region. He lives with his retired mother. He is divorced and his two children live with his ex-wife. Gagik, despite having a specialty as a lawyer, now he is a singer. He used to have a band and he went on tour to almost all the towns in Armenia and the Nagorno-Karabakh Republic. Now he mainly sings on weddings, birthdays and at corporate parties.
He has dealt with Kiva before and now he needs a loan in order to record a new song, which as he says today is very popular and liked very much by his admirers. He thanks Kiva lenders very much since their support gives him a chance as a singer to become famous and popular as a singer.
Gagaik is asking for a loan of 700,000 Armenian drams in order to record a CD for which he has already prepared twelve nice songs.
Previous Loan DetailsGarik is 45 years old. He was born and lives in the town of Kapan in the Sunikskiy Region. After graduation from high school Garik enrolled in the Saratov State University in the Russian Federation to major in history. After completing his studies in Russia Garik came back to his home country to ... More from Gagik'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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