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Karen is 43 years old and he lives in Sevan city in Gegharkunik region. Karen is married and he has a son who is a student of Crisis Management Academy at the paid division. For many years Karen did construction work for the Russian Federation; but for the last 16 years Karen has had his own fruit-vegetable stand business. During these years Karen became rather skilled in this field; he managed to have his own small shop, he bought a car and provided his family with good living conditions. In his shop he has a great assortment of local colorful, testy and fresh fruits and vegetables; potato, greens, cabbage, tomato, apple, grape, orange, lemon, banana, mandarin and pomegranate. All these goods he buys both from the villagers and from re-sellers at the city wholesale market. Karen says that his shop is near the central bus station of their city and he never had a lack of customers.
Karen has a new idea which needs some financial support. He asks a loan of 850.000 Armenian drams in order to buy acoffee making machine which he will place near his shop; this innovation, to his mind, will bring some more income to his family budget.

Additional Information

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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About Armenia

  • $6,300
    Average annual income
  • 135
    View loans »
    Armenia Loans Fundraising
  • $14,888,900
    Funds lent in using Kiva
  • 412.2
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,075 helped Karen to buy a coffee making machine for his shop.
85% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 23, 2014
Feb 17, 2014
Currency Exchange Loss: