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Update on Ruzan

Ruzan and her husband are still running their trading business. Recently Ruzan has diversified her business assortment and now she sells not only shoes but also tracksuits. The main accent in her business is on children’s shoes as they are always in popular demand. Thanks to business income Ruzan and her husband keep their family and they were able to improve their living conditions: they changed their flat to bigger one, as now their son’s family lives with them as well.

Ruzan spent her first Kiva loan to increase her business assortment. Now she is asking for $ 2,300 loan to buy children’s and student’s shoes ahead of the new academic year.

Previous Loan Details

Ruzan was born in 1965 in Yerevan. She lives with her husband, son, daughter-in-law and grandson. Ruzan’s daughter is married and lives separately from her parents. Ruzan’s husband is a shoemaker and had his own workshop, but because production in Armenia was not so profitable, he and Ruzan decid... More from Ruzan's previous loan »

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.

To stay updated on loans from Armenia, please join the Armenia lending team at

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Armenia

  • $6,300
    Average annual income
  • 161
    View loans »
    Armenia Loans Fundraising
  • $17,058,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Ruzan to buy children’s and student’s shoes ahead of the academic year.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Jul 27, 2012
Jul 30, 2012
Currency Exchange Loss:
Apr 16, 2014