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Emma S. is from the village of Shirakavan in the Shirak Marz in the Republic of Armenia. Emma has a high school education. She is a widow with an 18-year-old son. Most of her family lives in Yerevan, the capital of Armenia. She is a hard worker and over the past 18 years has been involved with trading to make an income. Her son currently studies at the Railway College in Gyumri,which is in Shirak Marz. The annual tuition for her son’s studies is around $115. She enjoys living in her village and would like to have a sustainable business in agricultural production. She is seeking a loan to grow vegetables and maintain a few cows. Currently she lacks the funding for the purchase of fertilizers, seeds and animal feed. She expects to grow her monthly income by 15% with the loan. She is choosing this business because she has the knowledge to grow vegetables and maintain cattle and would like to remain living in her village. Her biggest impediment to meeting her business goals is the investment required for fertilizers, seeds and animal feed. Her additional income from the business will continue to support her son’s education.

Additional Information

About AREGAK Universal Credit Organization

In 1997, United Methodist Committee on Relief (UMCOR) established the AREGAK microfinance program with the aim of creating economic opportunities for low-income people who lack or have limited access to formal financial services, especially in remote rural areas. The microfinance program rapidly became one of the largest microfinance institutions in Armenia in terms of the number of active clients and portfolio size.

In 2006, AREGAK UCO was registered as a universal credit organization structured as a closed joint stock company with UMCOR as the sole shareholder.

Today, AREGAK UCO provides a broad range of financial services to the population without compromising the social aspects of its mission. It continues pursuing initiatives geared toward the fulfillment of its ethical principles. To learn more about AREGAK UCO, visit its Kiva Field Partner page.

About Armenia

  • $6,300
    Average annual income
  • 91
    View loans »
    Armenia Loans Fundraising
  • $14,006,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD