Gayane is from the village of Hovouny in the Shirak region of Armenia. She is married with three daughters (twenty-two, twenty-eight and thirty years old). Gayane has a high school education and has been working as a farmer for the past fifteen years. As times are difficult in Armenia, Gayane supports her daughter’s families with produce grown on the family farm. She considers herself a hardworking person and is looking for a loan to purchase animal feed and seeds. The autumn planting season is near and Gayane wants to grow her business. The loan will help her increase the family income by ten percent. Gayane was born in Hovouny and enjoys living there. She dreams of renovating the family home.
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.