Maksim is from the village of Hacik in the Shirak region of Armenia. He is married with a one-year-old daughter. Maksim has a high school education and has been farming for the past eight years. In addition to supporting his family, he also helps his uncle’s family. He considers himself a hardworking and honest person.
He would like a loan to purchase potato seeds and fertilizer. Maksim expects this investment to increase the family's income by thirty percent. He is saving money for his daughter’s education and would like to continue growing his business. Maksim is pleased with the favorable conditions of microfinance and the good service.
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.