Your gift to help a hardworking entrepreneur will double in impact thanks to a generous World Vision partner.
Karine is from Armenia. She needs a loan of $1,175 to purchase additional goods for the shop.
Karine Magaryan lives in Gyumri where she runs a small retail shop in the city. Her store is stocked with food and household goods. Karine is needing to increase her income and feels that by increasing her inventory and adding new items that she will be able to bring in new customers and increase her sales. She is asking for funding from World Vision to make this happen.
Karine is the mother of two children. With her small income, it is very difficult for her just to make ends meet. The additional income would mean a lot to her family. They would have adequate food and other necessities, and their living conditions would improve. She wants to be a good provider and also set a good example for her children.
Her goals for the future include investing more into her store and saving for future needs, like schooling for the children.
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 supporting a small business loan for Karine Margaryan to expand her small retail shop.
After receiving the loan from World Vision, she invested the $1,175 by buying additional goods for the shop.
Karine has been repaying her loan on time with her new profits. She makes weekly payments of $22.
In addition to repaying her loan, Karine is using additional income to purchase food for the family and expand the current business. Karine's 2 children continue to study in school.
Thank you for supporting Karine and World Vision Micro!
Karine Margaryan has successfully repaid her small business loan. She invested the $1,175 for her commerce business.
Thanks to the loan that she received, Karine was able to use the profits from her business to purchase food for the family and purchase school supplies. In the future, Karine aspires to earn enough to repair or expand their home and expand the current business.
Karine's 2 children continue to study in school. Because she was able to invest in her business, she will be able to invest in her family.
Thank you for investing in the power of hardworking people. These funds are now available to help other entrepreneurs in Karine’s community.