Elida is from the village of Erazgavors in the Shirak region of Armenia. She is happily married with three sons (fourteen, nineteen and twenty-two years old). Elida has a high school education and has been working as a farmer for the past twenty years. Her eldest son will soon marry and she would like to help him with the wedding costs. She also dreams of renovating the family house. Elida would like a loan to purchase additional cattle. She expects this investment to bring the family thirty percent additional income. She has a positive opinion of microfinance and the opportunity to expand her business. She enjoys living in her native village of Erazgavors near her relatives and good friends.
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.