Vachagan H. lives in the Shirak region of Armenia in the village of Aghin. He is a hardworking farmer with 20 years of experience in cattle breeding and growing vegetables.
Vachagan is married with three children – an eighteen-year-old daughter and two sons (16 years old and 20 years old). In addition to supporting his family Vachagan also helps his relatives in the nearby city by sending vegetables from his farm. His dream, as a father, is to have all his children graduate from university.
In order to grow his business, Vachagan is looking for loan to purchase seeds and fuel. According to his plans the investment will increase his family income by around 15%. He is impressed with the positive attitude and service of microfinance. Vachagan was born in Aghin and hopes it will be his permanent home. He is surrounded by a large extended family and enjoys working on the land.
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.