Silvard is from the village of Arapy in the Shirak region of Armenia. She is married with two sons (twenty-seven and twenty-eight years old). Silvard has a college education and has been engaged as a farmer for the past twenty-five years. She also supports her relatives with produce grown on the family farm. Silvard is a hardworking, honest person. She is looking for a loan to purchase potato seeds, fertilizer and some piglets. Silva expects this investment to increase the family income by fifteen percent. She is pleased with the services of microfinance, especially as loan collections are conducted in her village.
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.