Update on VaheAs Vahe planned, he is taking his second deal/loan with Kiva. The first one helped him buy liquefied gas, oxygen cylinders, and other supplies for his work as a welder.
All the skills and secrets of welding he learned from his father, who used to be an excellent master in welding.
Vahe is still unmarried, and he lives in Vanadzor in the Lori region. His elder brother and father now are temporarily in Russian Federation and from there, they support him and his business financially.
Vahe works on orders; if he has an order, he buys material and makes the order. He works smartly, and with good designing taste.
He asks a loan of 150,000 Armenian drams to buy a lot of iron rods, which are very important materials in his work.
Previous Loan DetailsVahe is 30 years old and lives in Vanadzor city. Vahe is unmarried and lives with his parents. His brother now lives and works in the Russian Federation and often helps his family in Vanadzor by sharing their family expenses. Vahe used to be a worker in Vanadzor's factories. Now he works as a… More from Vahe'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.
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.
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