Rima is from the village of Gtashen in the Shirak region of Armenia. She is married with four children – two daughters (33 and 43 years old) and two sons (39 and 45 years old). Rima has a high school education and has been working in agriculture for twenty years. Her current savings are not enough to grow her business. Rima would like a loan to purchase pigs and cows. According to her business plan, this investment will increase the family income by twenty percent. She hopes to save a little extra money to repair the family home. Rima considers herself a hard-working, honest person and enjoys living in Gtashen near her relatives.
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.