Update on ShahenShahen is 54 years old and he lives in the village Aygehovit in Tavush. He is married and he has a son and a daughter who are already married. This peasant family hopes for the second loan from Kiva lenders. The first one helped them greatly to re-fence their fruit-vegetable garden and to buy tree seedlings. Shahen now has a tractor which helps him to do different paid work around his village. For some time, he used to work as a mechanic, then he worked as a contractual military serviceman. However, he was wounded and now receives a military pension. Lately, Shahen seriously became engaged in beekeeping also and together with his wife they manage to sell honey of good quality.
This time Shahen needs a loan in an amount of 1,200,000 Armenian drams in order to repair his tractor, which is out of order now, as it helps Shahen to earn the main income of his family.
Previous Loan DetailsShahen was born in 1960. He is married and has two children — a son and a daughter. His children are both married. His daughter lives separately from her parents. Shahen's son, along with his family, lives with Shahen in the Tavush region. Shahen’s wife works at school as a librarian. His son and… More from Shahen's previous loan »
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.
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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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This loan has been fully funded!