Smbul is from the village of Nahapetavan in the Shirak region of Armenia. She is happily married with four sons (seventeen, eighteen, twenty-one and twenty-two years old). She has a high school education and has been working as a farmer for the past fifteen years. Smbul supports her relatives living in the city with produce grown on her farm. She would like to expand her business. Smbul would like to save some of her future profits to help pay for her eldest son’s wedding. She is looking for a loan to purchase livestock and seeds. Smbul projects that this investment will increase the family income by fifteen percent. She has a positive opinion of microfinance loans and likes the high quality of the service.
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.