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Narine is from Armenia. She needs a loan of $1,000 to purchase new merchandise to sell.
Narine is from Armenia. She needs a loan of $1,000 to purchase new merchandise to sell.
Narine Hakobyan has been selling clothing for a living; she has her own retail shop. Narine is using the income she is making from the sales to support her family.
Getting a loan is vital for Narine and her family. She needs a loan for buying more merchandise to sell. Narine knows that the only way to expand her business is by receiving a loan. This way, Narine will grow her business and she will meet her customer’s needs.
Narine’s dream is to save money for her family’s future. Narine is single; she lives with her mother, a brother and his family.
The loan that Narine Hakobyan has requested has a repayment period of four years.
Retail is a quick and scalable way to begin earning a profit. Many entrepreneurs begin with stalls at markets or even at home and need a loan to expand or increase their inventory. Others may be ready to open a small store. Goods purchased from loan funds range from clothing, grocery or sundry items to jewelry, candy, perfume or health and beauty supplies. Loans in the commerce sector account for around 33% of our loans.
The community of Future with Faith is 75 miles north of Yerevan, the capital of Armenia. It is an urban area with poor infrastructure. It is made up of four neighborhoods and two villages. The area was built after the devastating earthquake back in 1988. People were brought there from different parts of the city and had no history of living together or caring for each other. They still remember their former homes and neighbors and they feel they haven’t been treated fairly by the government. People have lost hope and trust. Perceptions are connected with the change of generations and so the challenges remain of helping people to understand the reality.
In Future with Faith, World Vision is educating parents and teachers about children’s rights, renovating schools and supplying sports equipment and learning materials, and teaching children about personal hygiene and nutrition that helps to improve their health. Microfinance is helping people to establish their businesses and grow their clientele to stabilize their earnings and provide for their families.
Anna began selling gata, a traditional Armenian pastry, to help supplement her husband’s income. It was a slow and labor-intensive project but Anna was persistent. When she received her first loan, she rented a small space and purchased an oven. After repaying her first loan, she took out a second loan to purchase a mixer. Today, she has work for her three grown children and employs two women, one a single mother of three. A small loan can make a huge difference.
Thank you for partnering with World Vision Micro to provide Narine Hakobyan with a small loan for her clothing and retail business. Narine used her loan of $1,000 to purchase new merchandise to sell. She continues to make weekly payments of $4 on time.
With the profits she has earned from her growing business, Narine is able to purchase food for her family and expand her current business.
Narine's child continues to study in school. Thanks to Narine’s hard work, she will be able to provide a brighter future for her child.
Thank you for supporting Narine's small business through World Vision Micro!
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