Svetlana is from the village of Arevshat in the Shirak region of Armenia. She is married with two children – a twenty-two-year-old daughter and a twenty-one-year-old son. Svetlana has a high school education and has been farming for the past fifteen years. She dreams for her children to have happy lives and looks forward to being a grandmother. Svetlana is also keen to expand her business. She is looking for a loan to purchase seeds, fertilizer and fuel. According to her plan, this investment will increase the family income by eighteen percent. Svetlana was born in Arevshat and enjoys the rural life 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.