Koryun P. lives in the village of Arapy, in the Shirak region of Armenia. Koryun and his wife are the proud parents of two children – a twenty three year old son and a twenty four year old daughter. Koryun was trained as an economist, but due to economic conditions, he specializes in farming.
Over the past twenty four years he has built the family business and provided for his family. Koryun also helps his less fortunate friends and relatives with produce grown on the family farm. He would like a loan to purchase a tractor. According to his plan, this investment will increase the family income by fifteen percent. He dreams to purchase additional land to expand the family business for his children’s future.
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.