Vachagan is from the village of Arevshat in the Shirak region of Armenia. He is married and the proud father of two daughters and a son. He graduated from high school and also has training as a machine operator. Vachagan has been active in the agriculture production sector for 10 years. Vachagan raises cattle, grows vegetables and in his spare time repairs agricultural machinery.
Vachagan is pleased with the credit services of AREGAK UCO and welcomes his participation in Kiva. He is looking for a loan to purchase potato seeds, fertilizers and tools for his machinery repair work. The loan will also help him more easily manage his cash flow during the growing season. With this loan Vachagan expects his income to increase by 40%. His family also supports relatives in the city with agriculture products grown on his farm.
Vachagan hopes to someday purchase new agricultural machinery to improve his business. He considers himself a hard working, sincere person. He has chosen farming because it is the most beneficial and feasible occupation in his village. He really enjoys being a farmer and likes his village especially since he is surrounded by his extended family.
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.