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Davit

Update on Davit

Davit lives and works at the Kapan city which is in the Syunik region. He lives with his wife. His two sons are married and they live with their families and his daughter lives and works in Yerevan city as an accountant. Davit has been running his own business for twenty years; he has an auto repair shop. He has a lot of customers who trust him very much, since he works properly and very conscientiously.

Davit asks for a loan of 1,100,000 Armenian drams in order to complete the repair of his space and to also buy the necessary tools. This is Davit’s second loan with Kiva.

Previous Loan Details

Davit P. is 58 years-old and is married with three children: two sons and a daughter. Davit’s family lives in Kapan city. Davit has his own business: he has auto repair shop on his own shop floor and his elder son helps him in this business. Davit needs a 750,000 AMD loan to repair his worksh... More from Davit'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

  • $6,400
    Average annual income
  • 102
    View loans »
    Armenia Loans Fundraising
  • $13,536,025
    Funds lent in using Kiva
  • 405.3
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,725 helped Davit to complete the repair of his space and to also buy the necessary tools.
42% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 25, 2013
Listed
Nov 21, 2013
Currency Exchange Loss:
Possible