M. Sargsyan lives in the village of Pokr Mantash in the Shirak region. She is married and very proud of her two sons (23 and 27 years old). M. has been engaged in cattle breeding for the past 18 years and with the income from her business supports her family. She also helps her relatives living in Artik with the proceeds of her business.
M. has chosen to expand her business and is seeking a loan to purchase additional calves. She expects the family income to increase by 30% with the business loan. M. was born in Pokr Mantash and would like to continue living in her village. By growing her business she hopes to improve the future of her 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.