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Update on Khariton

Khariton is a young accountant who continues to sell groceries and produce in Sevan. Khariton's previous loan with KIVA allowed him to resell a large batch of sweets, juices, coffee and other groceries. He made a tidy profit from that venture which he invested in expanding his inventory and his business. At the beginning of the year Khariton stopped renting his store space and now rents a warehouse and sells groceries in bulk to other grocery stores. He purchases his inventory once a week from warehouses in Yerevan, transports all the purchases in his warehouse in Sevan then delivers them to grocery stores in Sevan area. To expand his whole sale business Khariton needs to borrow 1,000,000 Armenian drahm which he will use to purchase shipments of coffee, pasta and confectioneries as well as sugar for resale in Sevan.
View original language description ↓
Молодой бухгалтер Харитон продолжает торговлю продовольственными и продуктовыми товарами в Севане. С помощью предыдущего кредита от Кива
Харитон купил и перепродал большое количество сладостей, соков, кофе и других продовольственных товаров. От этой сделки он получил неплохой доход и весь доход он вложил в его новый бизнес.
В начале года Харитон сдал свой арендованный магазин обратно и арендовал новый слад и начал заниматься оптовой торговлей. Он покупает раз в неделю продукты и продовольственные товары с оптовых складах и рынках Еревана, собирает весь товар в своем арендованном складе в городе Севан и от туда разводит свой товар по магазинам Севанской области.
Для развития своей оптовой торговли Харитону нужен кредит на сумму 1.000.000 Армянских драм для покупки большой партии кофе, макаронных и кондитерских изделий, сахара для оптовой перепродажи в городе Севан.

Previous Loan Details

Khariton is twenty six years old and lives in the town of Sevan together with parents, his wife and child. Khariton's father does not work due to his health condition and Khariton's mother is a teacher in school. His wife is now on a leave of absence. Khariton graduated from an industrial-tech... More from Khariton'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
  • 418.3
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Khariton to buy a large batch of coffee, pasta products, confectionery, sugar for wholesale resale in Sevan city.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 20, 2013
Apr 22, 2013
Currency Exchange Loss:
Dec 17, 2013