Update on PapinPapin and his family are still engaged in farming. With last loan from Kiva, Papin bought tomato seeds and raised a good harvest on his land. He received a good profit and repaired his barn for his animals. He breeds cows, bulls, sheep and chickens. He is very happy that the income from his farming allows them to meet their family's needs.
Papin decided to enlarge the number of his animals and asks for a loan from Kiva lenders to buy 3 young cows and fodder for his animals. He hopes that it will be as good a deal with Kiva as his last loan.
Previous Loan DetailsPapin M. is 52 years old. He lives in Zovaber village, an area of Sevan, with his wife and his two sons. Papin’s wife works at a village school as a foreign language teacher. His elder son is jobless and his youngest son is a student. Papin worked as an engineer for a long time and since 2000, he... More from Papin's previous loan »
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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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.
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Success!! The loan was 100% repaid