Artyom A. lives in the Shirak region of Armenia in the city of Gyumri. He is the proud father of a five-year-old daughter and a nine-year-old son. Together with his wife, Artyom runs a small shop selling school supplies and toys. He has been engaged in this business for over nine years.
Artyom has a high school education and hopes one day both his children will attend university. His dream is to save enough money to purchase his own shop and to grow his business.
Artyom would like a loan to purchase a broader line of toys and school supplies. As his business is located in a busy part of town, he expects the family income to increase by around thirty-five percent. Artyom was born and raised in Gyumri and enjoys living there with his family.
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.