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Update on Arshaluys

Arshaluys is 59 years old and lives with his wife in Vanadzor city. He has a high education in engineering. For a long time, Arshaluys worked in the construction sphere, but as because of the low salary he decided to change his job.

For about 8 years, Arshaluys has been engaged in the trade of gold jewelry. He buys gold jewelry from Yerevan's wholesale gold markets and resells it in his rented stall in Vanadzor Gold Market.

Arshaluys has a son who lives and works in the Russian Federation with his wife and newborn son. Arshaluys's son often helps his parents in Armenia to relieve his parents monthly expenses.

Arshaluys’s new activity lets him to supply his family's needs much better than the last one in construction.

Arshaluys is asking for a loan of 3,000 USD from Kiva to increase his jewelry inventory. The new loan will help Arshaluys to develop his business.

Previous Loan Details

Arshaluys is 58 years old and lives in Vanadzor city. He is married and has a son who lives separately with his own family. Arshaluys is a builder, but for the last seven years has been selling jewelry in a rented place in Vanadzor market. Arshaluys sells gold chains, rings, bracelets, and ear... More from Arshaluys'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
  • 168
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Arshaluys to increase his jewelry inventory to resell.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 21, 2012
Dec 26, 2012
Currency Exchange Loss:
Nov 17, 2014