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Shahen is from Armenia. He has 2 children. He needs a loan of $1,000 Purchase sugar, flour, coffee.
Shahen is from Armenia. He has 2 children. He needs a loan of $1,000 Purchase sugar, flour, coffee.
Shahen Petrosian owns a small food store.
Shahen Petrosian lives in Tatul village, the family consists of 4 persons - himself, his wife and 2 young children. For more than 10 years Shahen has run his own trading business, which has originated from having a small stall on the street. Now he is running a small food store. In rural areas a food store does not bring much income, making it is difficult to rely on that business income alone. So Shahen combines this business with a small farm and land cultivation. Shahen’s wife helps him in their business.
Shahen has applied for the loan to stock up on flour, sugar and coffee for the food store. These food items are purchased most often. The local community will benefit from the locally available food items, as now they must travel into town to purchase these things.
Shahen hopes that by improving his business, his family and children will have better living conditions. His goal is to have sufficient income for his family and have some remaining income for additional investment in his business.
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 empowering Shahen Petrosyan with the opportunity to expand his food store business. With the $1,000 loan Shahen was able purchase sugar, flour, and coffee. Shahen is on his way to repaying his small business loan, as he makes weekly payments of $6.
Thanks to the profits he has earned, Shahen can afford to purchase food for his family and expand the current business. Shahen hopes to provide his children with a brighter future and his 2 children continue to study in school.
Thank you for supporting hardworking entrepreneurs like Shahen and World Vision Micro!
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