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Artak is 45 years old and lives in Ijevan city with his wife and daughter. Artak’s wife stays at home to care for their child. In the past, he was employed at a woodworking complex in Armenia, then worked in Russia for three years. In 1997, he returned to Armenia and set up his own business of selling fruit and vegetables. From time to time, he rents a truck to travel into the countryside to buy produce to sell, then returns to Ijevan city to sell these items from his stall.

Artak's business has allowed him to support his family, but he is applying for a loan for 700,000 AMD to buy his own truck so that he can travel more often and buy more produce. His goal is to decrease his expenses and increase his income. This is his fourth loan from Nor Horizon; he repaid the first three fully and on time.

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
  • 155
    View loans »
    Armenia Loans Fundraising
  • $15,809,675
    Funds lent in using Kiva
  • 374.8
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,875 helped Artak to buy a truck to use when buying and transporting produce.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Oct 6, 2011
Oct 13, 2011
Currency Exchange Loss:
May 17, 2014