Arevhat lives in the Shirak region of Armenia in the village of Pokr Mantash. She is married and has a 32-year-old son. She considers herself a hardworking and honest person and has been able to run the family farm for the past 20 years. In addition to supporting her family, she helps relatives nearby with produce grown on the farm. Arevhat would like her grandchildren to receive a university education. She is looking for a loan to purchase livestock and feed. According to her business plan, this investment will increase her income by 15%. Arevhat’s capital investment in the farm is around six times more than her outstanding debt. She is pleased with the services of microfinance and the services provided 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.