Armine is from the city of Gyumri in the Shirak region of Armenia. She is single and has a college education. She is a designer of home furnishings and has been in this business for twelve years. Armine supports her parents and her sister’s family. She is a hardworking, ambitious person and would like to grow her business. She is looking for a loan to buy materials to expand her types of products. Armine expects this investment to increase her income by twenty percent. She would like to continue expanding her business and purchase her own store. She is pleased with the quality of microfinance services.
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.