Jemma lives in the Shirak region of Armenia, in the village of Shirakavan. She is the proud mother of three sons (eleven, seventeen and eighteen years old). Together with her husband she has been working on the family farm for eighteen years. She dreams of having all three of her sons receive a university education.
Jemma is a hardworking person and has become an experienced farmer. She is grateful for the services of microfinance, especially that the loan disbursements are efficiently organized. She is looking for a loan to purchase seeds for autumn planting. This loan will increase her investment in the family farm by thirty percent and produce additional income of fifteen percent. The conditions for agriculture are favorable in Shirakavan. Farming is the main source of income for the villagers.
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.