Vigen K. is from the village of Aghin in the Shirak region of Armenia. He is married with a 6-year-old daughter and a 1-year-old son.
Vigen has a high school education and for the past 15 years, he has been in the vegetable-growing and pig-breeding business. At this time of the year, animal feeds and additional livestock are less expensive. Therefore, Vigen has chosen to take a loan at this time to grow his business. He has chosen microfinance as the services are well organized without complications.
With the loan, Vigen is going to purchase feed and additional livestock. He is expecting his family income to increase by up to 20 percent with this investment. His dream for the future is to save enough money for his children to attend university. He enjoys the village life and being a farmer.
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.