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Edgar is from Armenia. He needs a loan of $600 to upgrade to current technology.
Edgar is from Armenia. He needs a loan of $600 to upgrade to current technology.
Edgar is one of thousands of people who survived the devastating earthquake in Gyumri in 1998. The earthquake consequences are still part of daily life for all Gyumri people. Though he survived through earthquake, Edgar has a leg disability.
Now, he would like to start a business serving and making websites. This is a growing field in his city and he believes he can make a good income. But first he needs a loan for software, and to expand the business.
Edgar is excited for this opportunity to meet the growing client demand, and increase profits.
In areas where the poor live alongside the more affluent, businesses in the service sector can be very successful. Services include flower cultivation, tailoring/sewing, transportation, repair work, beauty salons and barber shops, and restaurants. Loans are needed to begin, expand, or sustain business with tools and supplies. Loans given to entrepreneurs in the service sector account for around 7% 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.
Thanks to the loan Edgar has purchased a professional video camera.
This allowed Edgar to provide better quality services. With the loan’s help Edgar has increased his cliental.
Edgar is making the repayments on time.
Business growth allows Edgar to plan for future development – business expansion and income growth.
Thank You for supporting Edgar and World Vision Micro!
With his loan Edgar has increased his client base, which allowed him to get more business income. His profits enabled him to purchase a professional video camera.
Edgar has paid back his loan in full. He is very grateful for giving him such a great opportunity to develop his business.
He says "I hope to make create a savings with the help of my increased income and expand my business in the future."
Now that his loan has been repaid these funds are available for another worthy entrepreneur in the same community. Thank you from Edgar and World Vision Micro!
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