Gohar lives in the Shirak region of Armenia in the village of Pokr Sepasar. She is married with two children – a ten-year-old daughter and a thirteen-year-old son. Gohar has a high school education and has been farming for the past fifteen years. She would like to expand her business and provide for her children’s education. Gohar would like a loan to purchase additional livestock. According to her business plan, this investment will increase the family income by 15%. Gohar is pleased with the conditions of microfinance and the well-organized loan collection process in her village.
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.