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Update on Karine

Karine and her family live in Kapan city. She has two daughters, who are already married and live with their families, and a son who lives with them. Karine has a specialty of nursing, but she has never worked. It has been many years now that she has been engaged in the clothes-trading business. She rents a stall in Kapan where she sells women's and men's clothes, underwear, shoes and boots, as well as children's clothes and shoes.
She buys all her stall merchandise from the Yerevan wholesale market every month. She is sure that this loan, like her previous loan from Kiva, will bring success, good income and a lot of customers.
Karine asks a loan of 1.100.000 Armenian drams in order to buy a winter clothing collection.

Previous Loan Details

Karine has been selling clothing and footwear in a shop she rents in the city of Kapan for the past 12 years. Once per month, she purchases the merchandise for her business in the city of Yerevan. Karine loves her business and works without holidays. She has many regular customers. Her business p... More from Karine'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
  • 124
    View loans »
    Armenia Loans Fundraising
  • $16,783,950
    Funds lent in using Kiva
  • 404.9
    Armenia Drams (AMD) = $1 USD
A loan of $2,725 helped Karine to buy a winter clothing collection in order to make a good profit from Christmas and New Year sales.
Repayment Term
38 months (Additional Information)
Repayment Schedule
Dec 4, 2013
Dec 23, 2013
Currency Exchange Loss:
Feb 21, 2014