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Update on Lena

This will be the second loan with Kiva for Lena, who lives in Vanadzor City, in the Tavush region. The first loan she used for the purchase of a winter assortment of clothes and underclothes for her clothes-trading business and the results were great. She is very satisfied with that winter period income and hopes for one more profitable cooperation.

Lena still works at the Vnadzor wholesale market at the rented stall. Her stall merchandise she brings from Yerevan in a rented car, once in a month. She sells men's, women's, and children's clothes of different fashions and sizes. She is happy that she managed to keep and develop her trading business during these 16 years since, through this occupation, she greatly helped her husband to earn their family's living. She also perfectly organized her daughters’ wedding parties. Lena lives with her retired husband, who worked at the furniture factory, but now he receives a pension.

Lena asks for a loan of AMD 500,000 (Armenian drams). Since spring season clothes are already in great demand among her customers, it is high time to renew her stall’s clothes collection and to change it all from winter to spring, full of colors and brightness.

Previous Loan Details

Lena is 62 years old. She lives in Vanadzor with her husband who works at the factory. Both of Lena's daughters are married and live separately form their parents. For more then 15 years Lena has been in sales: she sells women's clothes and undergarments. Lena rents a store at the Vandzor central... More from Lena'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.

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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.


About Armenia

  • $6,300
    Average annual income
  • 128
    View loans »
    Armenia Loans Fundraising
  • $14,350,650
    Funds lent in using Kiva
  • 414.6
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,225 helped Lena to buy clothes to sell in the market.
71% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Feb 25, 2014
Mar 19, 2014
Currency Exchange Loss: