Arpine is from the village of Hovouny in the Shirak region of Armenia. She is married with a thirteen-year-old son. She has a high school education and has been farming for the past ten years. Arpine also helps support her husband’s aunt who lives alone. She is looking for a loan to purchase seeds and fertilizer. According to her business plan, this investment will increase the family income by twenty-five percent. Her personal plan is to save enough money for her son’s university education. Arpine is also intent to continue growing her 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.