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Karen is from Armenia. He has 2 children. He needs a loan of $1,000 to purchase seeds, saplings, and fertilizer.
Karen keeps an orchard to help support his family in Meghry, Armenia. Agriculture is the family’s main source of income, but it is not enough to regularly meet their needs.
With the requested loan from World Vision, Karen plans to purchase seeds, saplings, and fertilizer in order to grow and improve his orchard. Additional income will help Karen to ensure better living conditions for his family.
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 Karen Petrosyan to expand his farming business. After receiving the loan from World Vision, he invested the $1,000 to purchase seeds, saplings, and fertilizer for his orchard.
Karen has been repaying his loan on time with his new profits. He makes weekly payments of $6.
In addition to repaying his loan, Karen is using additional income to purchase food for his family, purchase fertilizer and purchase saplings.
Karen's two children continue to study in school.
Thank you for supporting Karen and World Vision Micro!
Karen Petrosyan has successfully repaid his small business loan. He invested the $1,000 for his farming business.
Thanks to the loan that he received, Karen was able to use the profits from his business to provide food for her family, purchase fertilizer and saplings for his orchard. In the future, Karen aspires to earn enough to start a new business, expand his current business and take out another loan.
Karen's two children continue to study in school. Because he was able to invest in his business, he will be able to invest in his family.
Thank you for investing in the power of hardworking people like Karen through World Vision! These funds are now available to help other entrepreneurs in Karen's community.