Bayindur lives in the Shirak region of Armenia in the village of Haykavan. He is married with three children – two daughters (22 and 23 years old) and an eight-year-old son. Bayindur has a high school education and has been working on the family farm for the past 36 years. Bayindur also supports his brother living in Gyumri with produce grown on the family farm. Bayindur would like to expand his business and is looking for a loan. He will purchase potato seeds and calves. According to his plan, this investment will increase the family income by 20 percent. The conditions in Haykavan are favorable for breeding cattle and growing an agriculture business.
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.