Ofelya Davtyanlives in the Shirak region of Armenia, in the village of Haritch. She is a widow with five children – three daughters (twenty, twenty-five and thirty years old) and two sons (twenty-eight and thirty-two years old). Olfelya helps support her daughters’ families with meat and produce from her farm. She is a hardworking person with over thirty years of experience in raising livestock.
As the family is large, she wishes to save money to help with the purchase of an additional house. Ofelya is looking for a loan to purchase additional livestock. According to her business plan, she expects the investment to increase the family income by twenty percent. Since she is quite experienced in cattle breeding, she has chosen to expand her business. Ofelya considers herself fortunate to live in Haritch as she is surrounded by her family, relatives and close friends.
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.