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Armen is 41 years old and he lives in Spitak city which is in the Lori region. He is married and he has two children; his daughter is a student who in the future will have a specialty as an educator, and his son is still school-aged. His wife works at the post office.

Armen has a business of his own; in a rented shop he sells a great range of car parts. His shop is very popular in his district, because of his shop’s great assortment and low prices. He has been running his business for ten years, and during those years the number of his loyal customers has grown.

He asks for a loan of 1,000,000 Armenian drams in order to buy car tires and start to sell them also. He hopes that in this way he will manage to pay for his daughter’s tuition fee and provide his family with better living conditions.

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
  • 124
    View loans »
    Armenia Loans Fundraising
  • $14,377,525
    Funds lent in using Kiva
  • 405.3
    Armenia Drams (AMD) = $1 USD
A loan of $2,475 helped Armen to buy car tires and start to sell them also which will help him to receive a good profit and in this way he will manage to pay for his daughter’s tuition fee.
Repayment Term
38 months (Additional Information)
Repayment Schedule
Oct 31, 2013
Nov 22, 2013
Currency Exchange Loss:
Jan 21, 2014