Shahen G. is from the village of Bavra in the Shirak region of Armenia. He is the proud father of a 4-year-old daughter and a 2-year-old son. Shahen and his wife have been engaged in raising cattle for the past 15 years. Shahen also financially supports his brother’s family.
Shahen is looking for a loan to purchase calves and feed. According to his business plan, the proceeds from the loan should increase the family income by 20%. Shahen dreams of saving enough money for his children to attend college and purchasing a tractor for the family business. He considers himself fortunate to live in the clean environment of Bavra, close to extended family and friends. Shahen looks forward to continuing his business in the place of his birth.
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.