Araksi T. is from the village of Kaps in the Shirak region of Armenia. She is married with three children: a 24-year-old daughter and two sons (20 and 21 years old). Araksi has graduated with a veterinary degree. With her training, she decided to become a private entrepreneur. Araksi has been raising livestock for the past three years. The extra money she earns will be saved to pay for her children’s university education. Araksi is looking for a loan to purchase livestock, wheat seeds and barley seeds. This investment should increase the family income by 20 %. She also plans to help her relatives with the produce on the family farm.
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.