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Karen
Karen is 37 years old and lives in Agarak village in the Lori region. He is married, and he lives with his retired parents, wife and two school-aged sons.

Karen works at a private company as a milk density control specialist. At the same time, he owns a cute farm with two cows and two bulls. On his plot of land, he cultivates potatoes, which he sells to resellers. The milk and meat that Karen manages to sell is not much, and he greatly wants to enlarge his farm and his income from it as well.

Karen asks for a loan of 500,000 Armenian drams in order to buy several bulls to make his farm richer, and also animal fodder for his all farm cattle.

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.

Tags

About Armenia

  • $6,400
    Average annual income
  • 89
    View loans »
    Armenia Loans Fundraising
  • $13,470,000
    Funds lent in using Kiva
  • 413.7
    Armenia Drams (AMD) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,225 helped Karen to buy several bulls to make his farm richer, and also animal fodder for his all farm cattle.
48% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 16, 2014
Listed
May 18, 2014
Currency Exchange Loss:
Possible