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Babken H. is 22 years old. He lives in the village of Ddmashen near the town of Sevan with his parents and his two sisters. One sister is school-aged, and the other is jobless. Babken’s mother teaches biology in a Ddmashen school, and his father helps Babken in the business.

Babken studies in the Correspondence Courses at the Teachers-training College in Yerevan. Parallel to studying he has his own business, which consists of lavash (Armenian bread) production and sales. The bakery is in the family’s private house. Babken and his father have been running this business for five years, and they now employ a staff of two.

Babken needs US$ 3,000 for wholesale purchase of flour. Babken wants to use one part of the flour in his business and the other part he wants to resell. With the income for his business, Babken hopes to increase his sales and pay for his studies.

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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About Armenia

  • $6,300
    Average annual income
  • 161
    View loans »
    Armenia Loans Fundraising
  • $17,086,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Babken for wholesale purchase of flour.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Oct 15, 2009
Oct 15, 2009
Currency Exchange Loss:
Jan 15, 2011