Iveta lives in the Shirak region of Armenia in the village of Isahakyan. She is single and has a high school education. She has been a private entrepreneur engaged in farming for the past twenty years. Iveta also supports her brother’s son by taking care of his medical payments. She is a very hard worker and enjoys the life of a farmer. She dreams of saving enough money to support her nephew's university education. Iveta would also like to enlarge her cattle shed. She is looking for a loan to purchase seeds and some livestock. According to Iveta’s business plan, this investment will increase her income by twenty percent. She is pleased with microfinance, especially the well-organized disbursement process.
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.