Anahit S. is from the village of Akhouryan in the Shirak region of Armenia. Anahit has been an agricultural entrepreneur for 20 years. In Akhouryan, the main economic activity for the population is farming.
In order for Anahit to meet the spring sowing season, she needs a loan to purchase potato seeds and also animal feed. She expects the family income to increase by 20 percent with this investment.
Anahit is happily married with three children – two daughters (32 and 33 years old) and a 24-year-old son. With the additional income, Anahit will continue supporting her family and save some money to renovate the family home.
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.