Sofya is from the village of Voghji in the Shirak region of Armenia. She is married with two sons (seventeen and nineteen years old). Sofya has a high school education and has been farming for the past nineteen years. She also supports her relatives living in the city with produce grown on the family farm. Sofya would like to expand her business. She is looking for a loan to purchase two calves. With this investment, she expects her family income to increase by twenty percent. She hopes to keep growing her business and save some money to construct a new family home.
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.