Update on DavitDavit has become a very expected and responsible client both for Nor Horizon and Kiva. He lives in Ijevan with his wife, two daughters, and his parents.
Davit has a rich and accurate credit history; in Nor Horizon he already has five loans and this will be his third loan from Kiva. Davit’s first Kiva loan was of great help for him, since at that time he was engaged in bee keeping, and he bought 10 or 12 beehives, wax papers, and frames for his bee families.
The second Kiva loan he used for his new occupation; he installs and maintains gas cylinders in cars (with the help of the loan he bought several gas cylinders and new equipment to install cylinders in customer cars). He continues with this business.
Now Davit asks his third Kiva loan in an amount of 1,100,000 Armenian drams again to buy several gas cylinders and some needed materials for his work. This will be his third loan from Kiva, and he greatly needs it.
Davit says all the income from his work he spends for the needs of his young family. He also managed to build a small garage for his car service activities, since he used to work in his yard.
Previous Loan DetailsDavit earns a living by repairing cars and raising bees. Thanks to an earlier Kiva loan, he was able to expand his bee-keeping business. His two occupations have allowed him to support his family and build his own auto repair shop (he began repairing cars in his house's yard). He is now busy inst... More from Davit'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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Success!! The loan was 100% repaid