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Garegin Z. is 56 years old. He lives in the Ddmashen Village, Sevan area with his wife and two school-aged children. His wife doesn't work, but cares for their children.

Garegin has a higher education. He is a physicist and, for about 19 years, he worked in his specialty. But after 1996, because of changes in Armenia's economic situation, he lost his job. So he organized his own petrol and diesel oil business, which he runs from his garage. At the same time, Garegin is engaging in animal farming. Thanks to his two occupations, Garegin supports his family and saves money for his children's higher education.

Garegin is asking for a loan of 1,000,000 Armenian drams to buy petrol and diesel oil for his business.

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
  • 154
    View loans »
    Armenia Loans Fundraising
  • $15,809,675
    Funds lent in using Kiva
  • 360.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,800 helped Garegin to buy petrol and diesel oil for his business.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Dec 15, 2010
Dec 20, 2010
Currency Exchange Loss:
Jan 15, 2013