Rima G. lives in the Shirak region of Armenia in the village of Gharibjanyan. She is a widow with two sons (37 and 39 years old). She has a positive opinion of the services of microfinance institutions. For the past 20 years she has been working as a farmer. Rima has responsibly sustained her business over the years. She is looking for a loan to purchase fertilizer and fuel. With this loan she expects her income to increase by 20 percent. Growing her business will be a valuable asset to her sons' families. She is satisfied with her life in Gharibjanyan surrounded by family 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.