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Mikayel is 28 years old, and he lives in the city of Spitak, which is in the Lori region. Mikayel has graduated from Yerevan State Agricultural University, the department of Agricultural Economics. Mikayel is married, and he lives with his wife, mother and newborn son in a very nice house. His father is in the Russian Federation working abroad. Mikayel works at the bank as a jeweler and at the same time he is seriously engaged in bee keeping. Right near his house he has a small space where he has placed his fifteen beehives. With the profit from his beekeeping, Mikayel meets his family's needs.

Mikayel asks for a loan of 800,000 Armenian drams to add to the number of beehives and to repair the road which leads to the entrance of his house and to repair their house's balcony.

Additional Information

More information about this loan

This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources.

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
  • 169
    View loans »
    Armenia Loans Fundraising
  • $17,105,775
    Funds lent in using Kiva
  • 410.8
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,950 helped Mikayel to purchase more bees and to repair the road which leads to the entrance of his house and the house's balcony.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Aug 23, 2013
Sep 16, 2013
Currency Exchange Loss:
Mar 17, 2016