Our top priorities at COAF are intrinsically linked to improving agriculture in Armenia. Our goal is to create a sustainable environment for impoverished villages by utilizing natural resources like agriculture, with human intervention for watering and other improvements.
Here is one way that you and COAF can help provide the forward momentum that we need. Read the story of David below and see how 0% interest may be worth 100% of your focus.
Several months ago David Mnatsakanyan, a young Armenian living in the U.S., contacted the Armenia office of the Children of Armenia Fund (COAF) with an interesting idea for collaboration. David was looking for partners in Armenia to identify low-income borrowers to be supported by the funds they would raise. David founded FA Microloans, a nonprofit Microcredit organization that extends zero interest capital to low-income borrowers.
FA Microloans crowdfunds for low-income borrowers through www.famicroloans.org, where individuals from around the world can participate in the various crowdfunding campaigns. Microloans provided to low-income borrowers are repaid to participants in one lump sum once borrowers make their repayments. The most appealing aspect of David's offer was that the loans had zero interest and an extremely flexible repayment schedule.
This was a great opportunity for COAF which introduced us to the benefits of social entrepreneurship like crowdfunding. Within a month COAF had identified and proposed three potential borrowers to FA Microloans. Very soon their names appeared on the FA Microloans' website and the campaign started.
See how this incredible opportunity worked for these initial borrowers:
Lusine Khasimyan’s Dry Fruit Facility
Anush Sahakyan’s Baked Goods
Gevorg Abrahamyan Car Service
COAF and beneficiary farmers are very excited by this unique opportunity and we are all look forward to continuing our great partnership with FA Microloans.
Do you or your company have amazing ideas for partnering? Contact us today!
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