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Vaghinak is 37 years old. He lives in Vanadzor city with his wife and three children: two school-aged daughters and a three-year-old son.
Vaghinak manages his own business, which consists of selling men’s shoes. Recently he has started to produce shoes by himself and now he sells not only purchased shoes, but also he sells and distributes to other sellers, shoes which he makes by himself.

Vaghinak makes shoes to order as well. With the income from his business, Vaghinak is able to solve his family's needs. Vaghinak is asking for a 1,000,000 AMD loan to buy shoe lasts, soles, leather and imitation leather for his shoe production. This is Vaghinak’s 5th loan from Nor Horizon and his second one from Kiva.

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
  • 139
    View loans »
    Armenia Loans Fundraising
  • $15,744,675
    Funds lent in using Kiva
  • 367.3
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,725 helped Vaghinak to buy shoe lasts, soles, leather and imitation leather for his shoe production.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 12, 2011
Jul 20, 2011
Currency Exchange Loss:
Mar 15, 2013