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Karine A. is from the village of Artik in the Shirak region of Armenia. She is married with a daughter and two sons. She has a high-school education from her hometown of Artik.

Karine has been working as a self-employed businesswomen selling clothes. She is looking for a loan to stock her inventory of clothes for the autumn season. She considers herself an honest, hard worker.

With a loan, she is expecting to increase the family income by 30%. In addition to providing for her family, Karine also supports the family of her husband’s brother and her cousin. It is her dream to purchase a retail office for her business; currently she is renting office space. By increasing her inventory, she will be able to increase the variety of clothes available for customers.

She has lived in Artik her whole life and enjoys being close to relatives and friends.

Additional Information

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.

About Armenia

  • $6,300
    Average annual income
  • 178
    View loans »
    Armenia Loans Fundraising
  • $17,065,475
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD