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Update on Karine

Karine is still running a clothing and shoe trading business. She sells not only adult’s clothes and shoes but also clothes and shoes for children. Karine says that now her husband and her son-in-law live in Russia, so she manages her business by herself.
Thanks to her business’s income she provides for herself and her youngest daughter’s family, also she was able to pay for her three daughters' education and organized their weddings.
Karine used her second Kiva loan to buy clothes and shoes to resell.
Now she needs a 500,000 AMD (Armenian Dram) loan to buy autumn clothes and shoes for her business ahead of the school year beginning.

Previous Loan Details

Karine M. lives in Ijevan. She is married and has three daughters, all of whom are married. Her youngest daughter's family lives with her. Karine worked as an economist in a building organization until it closed in 1993. Then Karine and her husband rented a space in the Ijevan Central Market an... More from Karine'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
  • 175
    View loans »
    Armenia Loans Fundraising
  • $17,065,475
    Funds lent in using Kiva
  • 411.1
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Karine to buy autumn clothes and shoes for her business ahead of the school year beginning.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 15, 2012
Aug 23, 2012
Currency Exchange Loss:
Sep 17, 2013