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Suren

Update on Suren

Suren 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 Details

Suren 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 »

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.

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

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.

Tags

About Armenia

  • $6,300
    Average annual income
  • 157
    View loans »
    Armenia Loans Fundraising
  • $13,753,150
    Funds lent in using Kiva
  • 414.2
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,950 helped Suren to buy potato seedlings, fertilizer and also animal fodder for his farm cattle.
62% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 10, 2014
Listed
Mar 11, 2014
Currency Exchange Loss:
Possible