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Update on Albert

Albert is still engaged in his bricklaying business. With his previous loan from Kiva Albert bought a new machine-tool for his activity, which helps him to facilitate his hard work.

Albert has been engaged in this activity for about 16 years and as he confessed his knowledge in engineering has helped him in the bricklaying occupation. Through client order, Albert builds brick fireplaces, barbecue ovens and Armenian traditional bread (lavash) cooking ovens which are called Tonir.

The number of his clients is increased and now Albert has a good reputation in the whole Lori region and has many recommendations and orders even from Yerevan. Albert asks Kiva lenders for a 400,000 AMD loan to buy fireproof bricks to fulfill all his orders in time.

Previous Loan Details

Albert is 59 years old and he lives in Vanadzor with his wife. His children are married and live separately from their parents. Albert has a higher education and for a long time he worked as a civil engineer. But as the salary was not enough to keep the family, Albert started his own business. ... More from Albert'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
  • 137
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • 406.6
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Albert buy bricks for his business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 16, 2013
Jan 17, 2013
Currency Exchange Loss:
Feb 17, 2014