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Satik is 53 years old. She lives with her husband, son, daughter-in-law and grandchild in Varser village, which is in the Sevan area. Satik has a higher education. She is an economist. Satik has worked in factories as a cashier and, since 1992, she has worked in Varser Village Municipality as an accountant and finance specialist.

At the same time, she has been engaged in a farming and agricultural business with her family. She grows in her garden vegetables, which her husband sells in Sevan fruit markets. Satik has a large animal barn and breeds cows and sheep. The main income in her family is from agriculture as salaries are too low in her region. Satik also has a large plot of land near Varser village. From this land, Satik takes fodder for her animals. Without any mechanical tools it is very hard to mow the grass. So she needs a loan to buy a mowing machine, which Satik and her husband will use to mow grass and collect fodder for winter for her animals.

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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About Armenia

  • $6,300
    Average annual income
  • 173
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • 415.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,950 helped Satik to buy a mowing machine to mow grass and collect fodder for the winter.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 12, 2013
May 17, 2013
Currency Exchange Loss:
Jan 17, 2015