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Update on Garik

Garik and his family have decided to have their second deal with Kiva lenders.

It is very hard for Garik both to provide for his not-small family and also to pay for his daughter’s education.

Garik, now in his own garage, is engaged in car-repairing activities, but since he is the only bread-winner in his family, he hardly earns enough for his family's living.

Garik’s wife is not employed. His elder daughter is married, and she lives with her family. His son is school-age. His second daughter is a student at the Vanadzor Branch of the Armenian-Russian International University in the Jurisprudence Department.

Garik is asking a loan of AMD 180,000 in order to pay his daughter’s tuition fee for her second year.

Previous Loan Details

36-year-old Garik is married and has three children: two daughters and a 6-year-old son. Garik’s younger daughter is a first-year student at the Vanadzor Branch of “Mkhitar Gosh” Armenian-Russian International University. She studies in the Jurisprudence Department. Garik has worked as a driv... More from Garik's previous loan »

Additional Information

More information about this loan

This loan is part of NorHorizon's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to higher education. By supporting this loan, you're enabling access to education for students with limited options. 

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

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.


About Armenia

  • $6,300
    Average annual income
  • 123
    View loans »
    Armenia Loans Fundraising
  • $14,083,350
    Funds lent in using Kiva
  • 404.6
    Armenia Drams (AMD) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $450 helped Garik to pay his daughter’s tuition for the second year.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 6, 2013
Nov 29, 2013
Currency Exchange Loss:
Dec 17, 2014