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Update on Vardan

Vardan lives with his family in the small city of Stepanavan, which is in the area of Lori. Vardan is a father of two children, a daughter who is a student at Yerevan State University in the Department of Tourism and a son who works abroad.

Vardan and his wife have been engaged in farming for many years. They have a small cattle barn where they keep four cows. The main and decent income that they earn comes from the sale of milk to the factory.

Vardan has decided to enlarge his cattle-breeding business and to buy two calves. This is the second time that he has applied for a Kiva loan, relying on Kiva lenders' kindness and support. He asks for a loan of 500,000 AMD for this purchase.

Previous Loan Details

Vardan and his wife have been engaged in animal breeding for more than 10 years. They raise five cows and two calves as well. The milk that is produced Vardan takes to the factory, providing for his family and paying for his daughter's education. Vardan is 50 years old. He lives in Stepanavan... More from Vardan'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
  • 154
    View loans »
    Armenia Loans Fundraising
  • $15,809,675
    Funds lent in using Kiva
  • 417.2
    Armenia Drams (AMD) = $1 USD
A loan of $1,200 helped Vardan to buy two calves.
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 6, 2013
Jun 5, 2013
Currency Exchange Loss:
Jul 5, 2013