Larisa Z. is a farmer from the village of Nahapetavan in the Shirak region of Armenia. She is happily married and has two sons (28 and 30 years old). She has a high school education and has been raising cattle for the past 30 years.
With microfinance services, she is looking to grow her business. Larisa would like a loan to purchase additional calves. This investment can increase the family income by 15 percent. Larisa enjoys being an entrepreneur and providing for the family. Larisa also helps her relatives living in the town of Artik. She is also saving money to help her son pay off his mortgage. She enjoys living in Nahapetayan, surrounded by relatives and 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.