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Karen

Update on Karen

Karen lives with his family in Ijevan city in Tavush region. He is 33 years old. Karen is married and has two school-aged daughters. It has already been 20 years since Karen has been running his fruit-vegetable trading business. His parents help him very much. Since once a week, on his own car, Karen drives to Yerevan and he brings some part of fruits from there; his parents stay for him.

His stall is more colorful, nicer, and richer among the other stalls in the city wholesale market. He sells different sorts of apples, oranges, grapes, lemons, bananas, mandarins, tomatoes, green potatoes, cucumbers, onions, etc. He arranges all these products so cutely and nicely that his stall attracts many customers during the day.

Now Karen asks for a loan, since he wants to buy a lot of vegetables and some new assortment of fruits for his stall that he never sold before.

Previous Loan Details

Karen V. is 30 years old, married and has two children. He lives in Ijevan. His wife stays at home and takes care of their children while Karen and his parents are engaged in selling fruits and vegetables, which they have done since 2001. Karen buys fruits and vegetables from Yerevan and oth... More from Karen's previous loan »

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.

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
  • 164
    View loans »
    Armenia Loans Fundraising
  • $13,775,600
    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 $2,900 helped Karen to buy a lot of vegetables and a new assortment of fruits for his stall.
60% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 21, 2014
Listed
Mar 15, 2014
Currency Exchange Loss:
Possible