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Former boxer Karen is 28 years old. He graduated from Vanadzor State Pedagogical Institute, in the Department of Physical Education and Sport. Karen is married and lives with his wife and newborn child. He is the only bread winner in his family, and has to work hard in order to sustain his family.

From childhood, Karen was into sports. He was a famous boxer in Vanadzor, and has many titles and prizes from many Armenian and European competitions. But Karen was forced to leave the big sport because of injuries.

About 6 years ago, Karen started in the clothing trading business. He rents a stall in the Vanadzor clothes market, and sells sports clothing and sport uniforms. The merchandise he buys from Yerevan (a large city in Armenia) wholesale markets, and orders uniforms from sewing workshops. With the profit from his sport clothing business, Karen is able to meet his new created family needs and help his parents.

Karen has a big order from Vanadzor sport schools, and needs a loan of 1,000,000 Armenian drams to buy a special sport uniform collection from Yerevan for reselling. Karen hopes to receive a good profit from this order, and decided to save it for his child's good future.

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.

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About Armenia

  • $6,300
    Average annual income
  • 161
    View loans »
    Armenia Loans Fundraising
  • $17,086,950
    Funds lent in using Kiva
  • 411.4
    Armenia Drams (AMD) = $1 USD
A loan of $2,450 helped Karen to buy a special sport uniform collection from Yerevan.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 5, 2013
May 7, 2013
Currency Exchange Loss:
Jun 6, 2013