The Armenia Support Fund exists to take on programs and projects of a strategic nature that support economic development and promote unity in Armenia and amongst the diaspora community.
Our efforts are always in response to a specific, identified need or situation. Thoughtful planning and pan-Armenian partnerships with organizations that share a similar mission are the backbone of our success.
Armenia COVID-19 Small Business Support Initiative
In response to COVID-19, the Armenia Support Fund has partnered with The Paros Foundation (501(c)) to launch the Armenia COVID-19 Small Business Support Initiative. The purpose of this project is to raise funds to support the business-related needs of family-owned small businesses negatively impacted by COVID-19 in Armenia.
Since 2006, The Paros Foundation (501c) and it's donors have partnered to implement humanitarian, educational, cultural and development projects. In their almost 15 years of service, Paros has completed over 200 successful projects in Armenia and has raised over $7 million.
Are you a small business in Armenia looking to apply for an Armenia Support Fund Small Business Support Grant?
Thank you to our donors!
David & Margaret Magrublian
Globanet Consulting Services
Hovhannes Pashyan - Vav Plastics Inc
Chris & Richard Garsevanian
Tania Sarin Araradian
Yerevan & Villages
To apply for a grant, small and medium sized businesses will need to meet the following criteria:
Must be properly register
Must be family-owned
Must employ less than 20 people
Must have had 2019 annual sales of under $200,000 USD (96.5M AMD)
Must have a specific business need that can be clearly articulated
Business-owners will apply for this grant via our website and will be required to provide proof of a legitimate business-specific need for funds. Each business under consideration will be required to attend a live interview with ASF and Paros before being chosen for a grant award.
Small Business Grants Up To $2,500 USD
Funds will be distributed in the form of small business grants up to $2,500 USD (1.2M AMD). The Paros Foundation will manage the distribution of funds in Armenia to ensure funds are utilized as intended. Paros has relationships with trusted local vendors. In most cases, Paros will pay these vendors directly and ensure that fair rates are being received.
Family-Owned Business Support
We are committed to ensuring that grants are awarded to those who need it most. Most often, family-owned small businesses are hit the hardest, but are not always given easy access to financial relief. These are the businesses that need our support!
Focus on High Community Impact
Our goal is to ensure grants are awarded to businesses with the highest community impact. Businesses that are employing local workers and purchasing their goods from within Armenia will be prioritized as part of this effort. This will in turn ensure our donors' dollars have the greatest impact on the Armenian community in both Yerevan and Armenian villages.
100% Tax Deductible
Donations made through our partner organization,
The Paros Foundation, a 501(c) 3 organization, are tax-deductible to the fullest extent allowed by law. The foundation underwrites 100% of administrative costs, thus allowing all donor contributions to be allocated directly to the projects.