Knarik lives in the village of Shirakavan in the Shirak region of Armenia. She is widowed with two children: a thirty-year-old daughter and a thirty-nine-year-old son. She is a hardworking, honest person who has been farming for the past twenty years. In addition to supporting herself, she also helps her children with produce grown on the family farm. She would like to save some extra money to repair the cattle shed. Knarik is looking for a loan to purchase cows and animal feed. She expects this investment to increase her income by twenty-five percent. She enjoys the village life and has many good neighbors.
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.