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Stepan is 50 years old. He lives in the village of Verin Ptghni, which is in the Kotayk region of Armenia. Stepan is married and he has two sons and a daughter. For many years, Stepan has had his own production business. He is a shoemaker. He works in their house in a small and comfortable workshop where he has all the needed tools and materials for shoe repairing. Stepan has many loyal customers who, from all the large variety of shoemakers in their district, prefer and trust exactly Stepan. He is also engaged in agriculture; he cultivates some vegetables but not for sale – it is for his family’s needs.

Nor Horizon knows Stepan as a very responsible and serious person since he has taken out loans several times and he has paid them back successfully. This time, Stepan wants to cooperate with Kiva lenders and he asks for a loan of 300,000 Armenian drams to buy raw materials for his shoe production.

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
  • 142
    View loans »
    Armenia Loans Fundraising
  • $15,809,275
    Funds lent in using Kiva
  • 417.2
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Stepan to buy materials for his shoe production.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
May 7, 2013
Jun 8, 2013
Currency Exchange Loss:
Jun 17, 2014