Vazgen lives in Kapan with his wife, who is unemployed, and three children. His son works in a military unit and his two daughters are already married and they live separately with their families. For fifteen years Vazgen has owned a business selling construction and repairing products and other small items connected with it. He mentions that the income is not constant, but nevertheless he manages to pay the rent for his stall, to bring the needed products from Yerevan wholesale markets once a month and barely to cover the needs of his family. Vazgen’s stall is well known around the city, since whatever you need you can surely find in his stall.
The loan amount that Vazgen asks from Kiva lenders is needed for the purchase of a new batch of goods for his stall.
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.