Khanum is from the village of Erazgavors in the Shirak region of Armenia. She is divorced and has two sons (twenty-five and thirty years old). Khanum has a high school education and technical training as a sewing specialist. Because of the limited number of jobs in her specialty, Khanum has been farming for the past five years. She considers herself a hardworking, honest person. Khanum would like a loan to purchase two additional cows. According to her business plan, this investment will increase the family income by twenty-five percent. With future business profits, Khanum would like to renovate the family home. She really enjoys living in Erazgavors, especially as her relatives are nearby.
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.