Larisa K. lives in the Shirak region of Armenia, in the village of Pokr Sepasar. She is married with three children – twin sons (thirty-three years old) and a thirty-five year old daughter. Her daughter and her two children live with Larisa and her husband.
Larisa has been working as a farmer for the past twenty-five years. She is hard working and particularly knowledgeable about cattle breeding. The pastures and climatic conditions of Pokr Sepasar are quite favorable for raising cattle.
She is looking for a loan to purchase additional livestock. According to her plan, the investment will increase the family's income by twenty percent. In addition to supporting the family, she particularly wants to save money for her grandchildren’s education. She has lived her whole life in Pokr Sepasar and is surrounded by friends and relatives.
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.