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Update on Sargis

Sargis is a young farmer, 30 years old, who lives in the village of Pabmak in the Lori region. He lives with his parents, wife and two small daughters. Sargis is unemployed and he is fully engaged in farming and agriculture. Together with his father Sargis takes care of his large and rich farm; they breed eight cows, ten heifers and twelve piglets. Sargis has a contract with a local big dairy products factory to which he sells most of the milk from his cows. Sargis is very worried about his farm cattle for the coming winter cold months, since cold and long winters are very typical to his region.
He asks for a loan of 800,000 Armenian drams since he needs a lot of hay to feed his farm animals during winter. He needs this loan to mow some parts of the hay and also to buy some from other villagers.

Previous Loan Details

Sargis is 28 years old. He lives with his family in the village of Pambak in the Lori region. Sargis's entire family - his parents, brother and wife - raise cows and pigs. Sargis then sells the products and this is how the family makes a living. Sargis sells milk to the local milk factories and h... More from Sargis'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
  • 166
    View loans »
    Armenia Loans Fundraising
  • $17,071,775
    Funds lent in using Kiva
  • 407.5
    Armenia Drams (AMD) = $1 USD
A loan of $1,975 helped Sargis to mow some of the hay and also to buy some from other villagers.
Repayment Term
32 months (Additional Information)
Repayment Schedule
Sep 4, 2013
Sep 28, 2013
Currency Exchange Loss:
Oct 28, 2013