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Albert
Albert is 48 years old and he lives in Ijevan city in the Tavush region. He is married and has two daughters and a son. His son works at the factory, his eldest daughter is unemployed, and his youngest daughter is still school-aged. Since 1997, Albert has worked at the Electric Networks as a leading master. Despite Albert and his son being employed, they hardly manage to earn enough for their family living. The family needs are a lot but their finances cover only the most urgent items.

Albert’s great desire to improve his family’s living conditions seemed unrealistic due to a lack of money, until he made the decision to request a loan with Kiva and its field partner, Nor Horizon. Albert asks for a loan of 300,000 Armenian drams in order to buy kitchen furniture for his house and also to make a nice surprise for his wife.

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.

To stay updated on loans from Armenia, please join the Armenia lending team at http://www.kiva.org/team/armenia.

Tags

About Armenia

  • $6,400
    Average annual income
  • 107
    View loans »
    Armenia Loans Fundraising
  • $12,432,975
    Funds lent in using Kiva
  • 414.2
    Armenia Drams (AMD) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Albert to buy kitchen furniture for his house and also to make a nice surprise for his wife.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 7, 2014
Listed
Mar 9, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014