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Thirty-three-year-old Armen lives in Yerevan with his mother, who is jobless.
After serving in the Armenian Army, he worked in the trading sector for several years. For about 3.5 years, he has been making rolls of tin foil and plastic wrap, which are used to preserve food and for baking. Armen constructed his rolling device by himself and he set up his business with a relative of his. But six months ago, his relative left Armenia, and now Armen carries on his business alone.
Armen buys tin foil from an Armenian factory and Chinese-produced plastic wrap from a wholesale fair. Recently, Armen received an offer for Chinese tin foil purchasing, but he rejected that proposal as he prefers to work with domestic manufacturers.
Armen sells his tin foil and plastic wrap to supermarkets and corner stores. He uses the profit from the business for his family.
Armen is seeking a loan of 700,000 AMD to buy raw materials for his business. The supermarkets pay Armen 90 days after shipment, so this loan will help him cover the cost of raw materials.

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
  • 124
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • 366.4
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,925 helped Armen to buy raw materials for his business.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Jul 20, 2011
Jul 22, 2011
Currency Exchange Loss:
Aug 16, 2012