Gayane is from the village of Akhouryan in the Shirak region of Armenia. She is a widow with three chidren – a twenty-three-year-old daughter and two sons (sixteen and twenty-six). Gayane has a high school education and has been a sole entrepreneur engaged in farming for the past twenty-five years. She considers herself a hard-working honest person. Gayane would like a loan to purchase potato seeds and feed. This investment should increase Gayane’s family income by ten percent. With some of the proceeds from the investment Gayane will be saving some money to renovate the family home. She is proud of living in Akhouryan and the ability to maintain her family.
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.