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Manushak is from the village of Karnout in the Shirak region of Armenia. She is married with two sons, ages nineteen and twenty-four. She is a community college graduate and has been farming for over twenty years. She is a hard worker and provides extra support to her younger son who is in the army. She dreams of renovating the family home, but first she is looking to grow her business. Manushak would like a loan to purchase seeds, fuel and calves. This investment should increase the family income be around thirty percent. She is pleased with the terms and conditions of microfinance.

Additional Information

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.

About Armenia

  • $6,300
    Average annual income
  • 131
    View loans »
    Armenia Loans Fundraising
  • $14,328,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,800 helped Manushak to purchase seeds, fuel and calves.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jan 27, 2012
Feb 22, 2012
Currency Exchange Loss:
Sep 15, 2012