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Update on Gagik

Gagik is a trader and a previous Kiva borrower. He is still successfully running his trading business, which allows him to provide for his family. Gagik reports that his son now works as a builder, which means that Gagik is managing his business on his own, without assistance.

Gagik has expanded his business to include the sale of fresh fish. He says that this was a very good idea, as fish is in great favor in any season.

Gagik utilized his first Kiva loan to increase his stall assortment. He is now requesting a loan in the amount of 450.000 AMD in order to buy a large supply of citrus, nuts, and fish to offer for sale.

Previous Loan Details

Gagik was born in 1963 in Kapan. He's married and has two children: a married daughter who lives separate from her parents, and a son of twenty-four who helps his father with the business. His wife takes care of the household. In 2000 he started renting a small shop by the city council building i... More from Gagik'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
  • 138
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • 407.3
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Gagik to buy a large supply of citrus, nuts, and fish to offer for sale.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Nov 15, 2012
Nov 20, 2012
Currency Exchange Loss:
Aug 17, 2014