Aida is from the village of Erazgavors in the Shirak region of Armenia. She is married with three children: a twenty-two-year-old daughter and two sons (aged twenty-four and twenty-eight). Aida is a respected person in the village of Erazgavors, having worked on the family farm for the past twenty years.
She is looking for a loan to purchase calves and feed. According to Aida’s business plan this investment will increase the family's income by thirty-five percent. She keeps her debts low, and the equity in her business is four times more than her loans. Aida enjoys living in Erazgavors, surrounded by family and friends.
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.