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Update on Armine

Armine lives in the city of Kapan with her husband and two daughters. Her husband works at the Kapan poultry farm as a chief accountant. Armine has studied at the Yerevan University of Acharyan in the department of Applied Mathematics. Her education is a great asset to running her trading business in a smart and profitable way.

She has been in the clothes trading business for eight years. She sells men's and women's clothes and shoes. She works in a rented stall in a big clothes wholesale market which is located in a very crowded and central part of the city of Kapan.

Armine decided to enlarge her trading and to increase her potential profit because her family expenses have increased and her husband’s salary is not enough for these expenses. This is the third deal with Kiva for Armine and she is very appreciative of the past cooperation. She is very hopeful that Kiva lenders will support her again.

This time Armine is asking for a loan of 1,000,000 Armenian Drams to buy a lot of autumn-winter clothes. She hopes that the season's sales will be very profitable.

Previous Loan Details

Armine is still running her trading business, which allows her to help her husband to provide for their family. Recently, Armine has shifted the emphasis of her business to shoes, as she says that it is more profitable. Armine use her first Kiva loan to buy autumn season clothes and shoes to r... More from Armine'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.

To stay updated on loans from Armenia, please join the Armenia lending team at

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
  • 175
    View loans »
    Armenia Loans Fundraising
  • $17,141,425
    Funds lent in using Kiva
  • 405.9
    Armenia Drams (AMD) = $1 USD
A loan of $2,475 helped Armine to buy a lot of autumn-winter clothes.
Repayment Term
32 months (Additional Information)
Repayment Schedule
Aug 7, 2013
Sep 2, 2013
Currency Exchange Loss:
Oct 2, 2013