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Mkhitar
Mkhitar is 42 years old and he lives in the village of Debet in the Lori region. Mkhitar has three children, two daughters and a son. His son is in the army, his elder daughter is a student and at the same time she works, and his smallest daughter is still school-aged.

Mkhitar works at a stone workshop as a smoother and he also, together with his wife, is engaged in farming. There was a time when their farm was richer and bigger and Mkhitar did all the work with his parents, but suddenly his parents had some health problems and in order to pay for their medicine and treatments, Mkhitar had to sell some part of their farm cattle. As he says, fortunately all those difficulties are in the past and his parents are healthy.

Today he is doing his best to make his farm richer. On his farm he has cows, calves, a bull and chickens. The barn for all of it he has built on his own. He manages to sell a lot of milk, meat and eggs at the wholesaler in their city and this income is a great support for his large family.

Mkhitar asks for a loan of 700,000 Armenian drams in order to buy several piglets and a lot of animal fodder since he wants to make it as great and as rich as it used to be before.

Additional Information

More information about this loan

This loan is designed for borrowers in rural areas with a special focus on the agribusiness sector in Armenia.

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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Tags

About Armenia

  • $6,400
    Average annual income
  • 126
    View loans »
    Armenia Loans Fundraising
  • $12,884,550
    Funds lent in using Kiva
  • 405.0
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,750 helped Mkhitar to buy several piglets and a lot of animal fodder.
35% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 12, 2013
Listed
Jan 3, 2014
Currency Exchange Loss:
Possible