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Karen is 29 years old and he lives in Ijevan in Tavush region. Karen has his own business; he sells flowers and bouquets made of it and he also has a coffee grinder and he also sells ground coffee. He buys the flowers for bouquets every other day at the local wholesale flower market and he goes there very early in the morning in order to manage to buy nice, fresh and not very expensive flowers. In all ,Karen is not satisfied with his flower sale business’ income, since during these cold months flowers do not sell very much. The main financial income of his family comes from the sale of coffee. Karen is married and he has two small children. Karen’s wife tries to help her husband to earn a living and she works at the local school as a teacher.
Karen is asking for a loan of 500,000 AMD in order to buy a new, more powerful coffee grinder and some new assortment of flowers to sell.

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
  • 133
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • 405.5
    Armenia Drams (AMD) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Karen to buy a new, more powerful coffee grinder and some new assortments of flowers to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 20, 2013
Dec 15, 2013
Currency Exchange Loss:
Nov 17, 2014