Araksya is from the village of Pokr Mantash in the Shirak region of Armenia. She is a hardworking and honest person who has been engaged in farming for the past 15 years. Araksya is happily married and has three children: two daughters (24 and 27 years old) and a 22-year-old son. As her daughters are happily married, she is hoping for the same for her son. Araksya is looking for a loan to purchase livestock and feed. She expects her investment to increase the family income by 10%. Her capital investment in the business will be six times her outstanding debt. She is pleased with the services of microfinance, which has helped her family to continue living in Pokr Mantash.
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.