Ester is from the village of Pokr Sepasar in the Shirak region of Armenia. She was born in Pokr Sepasar and lives near her relatives. The main economic activity in Ester’s village is farming. She has been engaged as a private entrepreneur in farming for over twenty years. Ester is married with four children – a twenty-one-year-old daughter and three sons (twenty-five, twenty-six, and twenty-eight years old). She hopes to grow her business and save money to repair and improve the cattle shed. Ester is looking for a loan to purchase seeds and fuel. With this investment she expects the family income to increase by ten percent. She is pleased with the services of microfinance.
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.