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Update on Haykaz

Haykaz is still running his trading business and taxi driving. Thanks to his occupations, Haykaz provides for his family and also he was able to organize his daughters’ weddings. Haykaz runs his trading business in a rented place at the market. Recently he rented a plot of land for a long time, where he will build his own shop. This fact will allow Haykaz to cut down his business expenses in the future and to serve his customers in more favorable conditions.
His first Kiva loan Haykaz used to enlarge his business assortment. Now he needs a 1,000,000 AMD loan to buy slippers, sandals, panama hats, straw hats, etc. to resell. He says that this merchandise is in popular demand in the summer and holiday season. Haykaz will use his future income for his new shop construction.

Previous Loan Details

Haykaz P. is 53 years old. He lives in Kapan city with his wife and his son. His two daughters are married and live separately from their parents. For about 15 years Haykaz and his wife have been engaged in clothes, shoes and household goods trading. At the same time, Haykaz drives a taxi;... More from Haykaz'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.

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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
  • 175
    View loans »
    Armenia Loans Fundraising
  • $17,065,475
    Funds lent in using Kiva
  • 407.3
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,475 helped Haykaz to buy slippers, sandals, panama hats, straw hats, etc. to resell.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 25, 2012
Jul 31, 2012
Currency Exchange Loss:
Aug 17, 2014