Raya S. is from the village of Horom in the Shirak region. She dreams of sending her two daughters (aged four and five years) to university one day. With this in mind, Raya has run a successful microbusiness for the past 15 years. She specializes in raising cattle and growing vegetables. In addition to saving for her children’s education, she also supports her extended family in Gyumi with vegetables grown on her farm.
At this time, Raya is ready to expand her business. She is looking for a loan to purchase additional livestock and expand her vegetable-growing business. With the loan, Raya is expecting her income to increase by 20 per cent. She is confident that her business plan will be successful. This is important to her as she wishes to be able to stay in her birthplace of Horom, surrounded by her friends and family.
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.