Update on ArevikArevik lives in the Gegharkunik region in Sevan city. She lives with her parents and her school-aged brother. She is a student of Yerevan State Pedagogical Institute in the Department of Psychology and Sociology and she studies at the distance-learning division. This will be Arevik’s second loan. The first one she has taken in order to pay her tuition fee for the first semester and she is very thankful for that support. This time her loan has a very different theme: she is going to get married and she is going to have a lot of expenses connected with it.
She asks for a loan of 1,000,000 Armenian drams in order to organize her wedding party so that it is nice and chic.
Nor Horizon staff wishes her great happiness and good luck and we are sure that Kiva lenders will join our wishes also.
Previous Loan DetailsArevik is a very nice and pleasant girl with so beautiful a name, which is translated as a sun. Arevik lives in Sevan city with her parents and brother, who is still school-aged. Arevik studies at the Yerevan State Pedagogical Institute in the Department of Psychology and Sociology. Arevik… More from Arevik's previous loan »
More information about this loan
This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources
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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