Susanna S. is from the village of Bavra located in the Shirak region of Armenia. Susanna is married with three children – two daughters (27 and 25 years old) and one son (20 years old). She has a high school education with 7 years of experience farming and running small businesses. She particularly sees growth potential in her small retail shop. She is looking for a loan to increase her shop's merchandise. With this investment she expects the family income to increase by 15%. These proceeds will be used to support her daughters' families, save money for her son’s upcoming wedding, and reinvest in the business. She enjoys living in Bavra with its agricultural lifestyle and beautiful environment.
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.