Update on ArmenArmen is 28 years old. He is unmarried and he lives alone. Armen has graduated from Yerevan State University . Following several years of hard and devoted work, he now is working in a hydro-electrical station. Simultaneously, he is engaged in farming. On his farm he has cows, piglets, and chickens, and he takes care of them perfectly.
Armen has decided to get a decent income with the coming of the New Year. This is the reason for requesting a second loan with Kiva. He asks for a loan of 1,100,000 Armenian drams in order to buy a quantity of animal fodder for his piglets. He plans to feed them for half a month and then sell them. Armenian people make their main New Year’s dish from pork, so that is why the demand for pork is so great during that period.
Previous Loan DetailsArmen is 26 years old; he lives in Kapan. After finishing middle school in Kapan, Armen entered and graduated from Yerevan State University (Radiophysics Department). At this time, Armen works as an electrician and lives in the village of Tsav in the Syunik province. Armen is unmarried and lives ... More from Armen's previous loan »
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.
To stay updated on loans from Armenia, please join the Armenia lending team at http://www.kiva.org/team/armenia.
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.
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This loan has been fully funded!