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Suren is from Armenia. He has 2 children. He needs a loan of $1,000 to purchase livestock.
Suren Hovhannisyan lives in Sevakar, Armenia where he is engaged in an agricultural business. Suren has the long-term plan of increasing the livestock and developing pig-breeding, but he doesn't have the sufficient finacial means.
With the World Vision loan’s help, Suren will increase his income which will help him expand the business further. He will be purchasing livestock with the loan. Suren would like to develop agricultural other branches as well so will begin planning for that. The additional income will help Suren improve his family’s living standards.
The Agriculture business sector covers all farming and livestock activities. Some entrepreneurs request loans to help in securing supplies and equipment. Others want to buy more animals to breed or purchase feed and medicines. The majority of our loan clients live in rural communities where agriculture is already understood as a business model. It is for this reason that approximately 50% of our loans are in the agricultural sector.
Armenians have their own distinctive alphabet and language. They have a history rich in culture and like to celebrate their heritage. After independence, the importance of agriculture increased. Worries of food insecurities rose during the first phases of transition. Farmers are still limited in their access to credit, markets, training, and new technology.
Located in the southern region of Armenia, Sisian has long, cold winters and cool summers. Traditionally an agricultural region, residents of Sisan were unwillingly involved in conflicts arising from the collapse of the Soviet Union in 1991. This conflict damaged the economy and the infrastructure as well as creating a heavy psychological toll for those involved.
Today, World Vision has enabled residents to begin addressing essential needs such as access to clean water, nutritious food, quality education, and vocational training.
Thank you for supporting a small business loan for Suren Hovhannisyan to expand his farming and livestock business where he raises agriculture. After receiving the loan from World Vision, he invested the $1,000 to purchase livestock.
Suren has been repaying his loan on time with his new profits. He makes weekly payments of $6.
In addition to repaying his loan, Suren is using his additional income to purchase food for the animals and expand the current business. Suren's 2 children continue to study in school.
Thank you for supporting Suren and World Vision Micro!