New microfinance loans. From Mongolia to Paraguay

Armen Hovhannisyan in Armenia

Armen wants to invest in potato seedlings for the next planting season

Armen Hovhannisyan lives in Armenia, in a village called “Lchashen” with his parents, his wife and two children.

Armen has been a farmer for about 15 years. In his farm he has cows, sheep, pigs, and chickens. Armen’s wife helps him in farming, so they support their family, develop their farm and pay for their children’s education at university. He asked for a loan of 1,000,000 AMD (USD$ 2,800) to buy potato seedlings, which he will plant next spring.

Armen Hovhannisyan is one of the 31 new loans we have issued to Kiva this week.
In this tranche, we slightly deviated from our usual emphasize on women, but concentrated on entrepreneurs working in groups, and lenders working in agriculture.

In the course of the past two years, Our Kiva team has now allocated over 1,000 microfinance loans, for a total value of US$39,500. Check our score card for the details!

Of the microfinance loans I have allocated to people in 36 countries, 90% were women.
37% of the loans went to people working in the agricultural sector, 26% works in retail (smaller shops) and 21% worked in food processing and food trade.

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