Harutyun Hovhannisyan is one of our member-borrowers, who has continued to develop the family business founded by his father namely in the sphere of greenhouse farm and gardening.
The prosper business was established in the beginning of 1980-s and was the one from tiny minority of greenhouses which construction was projected according to new technologies and quality requirements of those times. The farmers put efforts and managed to develop their business thanks to their effective business program, which was the result of long and thorough work.
Mr. Hovhannisyan is one of the borrowers of Farm Credit Armenia who started his cooperation almost 7 years ago building a road to success parallel to the cooperative’s growth. He has already been financed by Farm Credit for 16 times.
The first significant financial support from Farm Credit was in 2008 in the amount of 8.5 mln drams of investment, which was considered to be used in the establishing of 2 hectares of Vineyard and installing of drip system in the greenhouse of 1500 m2.
The next big step in the way of success was the construction of boiler house and installment of heating system in the greenhouse, which costs accounted for more than 6 mln drams, so Farm Credit helped to realize the initiative of the farmer.
In 2011 a big investment had been required for the construction of a new glass greenhouse of 620 m2. In 2014 a new greenhouse was built by Mr. Hovhannisyan, when he borrowed 6 mln drams of credit from the cooperative.
Besides the capital investments, Mr. Hovhannisyan was credited by Farm Credit also for working capital expenditures.
And the latest credit was invested in the renovation of old greenhouses in this year.
Totally, Farm Credit Armenia allocated 70.4 mln drams to this farm and the result was acquiring and installing of new high-powered technical equipments, enlarging his business by building new greenhouses and adding 2 hectares of Vineyard.