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Update on Karlen

Karlen is a young farmer who is already highly skilled in animal breeding and land cultivation. He has four cows, four calves, twenty sheep and thirty chickens. He also cultivates potatoes, grains and tomatoes. He and his family live in the village of Geghamavan, where his parents help him with his work. Karlen has already taken out a loan from Kiva lenders and used it to repair his cattle barn and buy two calves. He is very grateful and touched by such kind support and is eager to continue working with Kiva lenders. This time he is requesting a loan for 1,000,000 Armenian drams to enlarge his herd and to stock up on animal fodder for the coming winter months.

Previous Loan Details

Karlen A. is 35 years old, and he lives with his parents in Geghamavan village, in the area of Sevan. Karlen works for the police and at the same time he is engaged in farming. He has 13 years of experience in animal breeding and land cultivation. Karlen raises cows, calves and sheep at his f... More from Karlen'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
  • 174
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • 417.2
    Armenia Drams (AMD) = $1 USD
A loan of $2,400 helped Karlen to buy animal fodder, calves and bulls.
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 14, 2013
Jun 17, 2013
Currency Exchange Loss:
Jul 17, 2013