Update on SurenSuren is 49 years old. He lives in Ddmashen village, which is in the Gegharkunik region. His large family sends their greetings to Kiva and its field partner Nor Horizon and thanks for their first Kiva loan which was rather profitable (they bought young calves) and of great help. Suren perfectly manages his farming and agricultural activities. On his farm Suren raises three cows, four calves, four sheep and twelve chickens. He also continues the cultivation of potatoes and he plans to enlarge it, since he already has a customer who is ready to buy his coming season's harvest.
Suren needs this second loan from Kiva in an amount of 800,000 Armenian drams in order to buy potato seedlings, fertilizer and also animal fodder for his farm cattle.
Previous Loan DetailsSuren is 48 years old and he lives in Ddmashen village, which is in the Gegharkunik area, with his big and lovely family. Suren’s wife is a librarian at their village library. They have four children: three daughters and a son. Their son works at the police, the eldest daughter works as a teacher,… More from Suren'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!