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Marsel was born in Ljevan City in 1982. He is married and has a five year old son and a two year old daughter. His wife stays at home and takes care of their children.

Since 2000 Marsel has been running his own business. He produces shoes in his home’s basement and sells them in the Ljevan market and distributes his shoes to other businessmen. Also Marsel takes orders for shoes production. He sells ready-made shoes from a rented stall in the Ljevan market. Marsel purchases materials and domestically produced shoes from Yerevan.

Thanks to his business profit Marsel has able to keep his young family and he bought necessary furniture for his home. This is Marsel’s 5th loan from Nor Horizon and now he is asking for a 750.000 AMD loan to buy shoes assortment to resell and to buy materials (leather, shoe soles, etc.) for his shoes production.

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
  • 374.7
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,025 helped Marsel to buy shoe assortments to resell and to buy materials (leather, shoe soles, etc.) for his shoes production.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
May 24, 2011
May 27, 2011
Currency Exchange Loss:
Dec 17, 2013