Sirvard lives in the Shirak region of Armenia in the village of Karnout. Karnout is far from the noise of the city and the air is fresh. There are few economic opportunities except for farming and raising livestock. Sirvard has been engaged as a farmer for the past nineteen years. Owing to the services of microfinance she has been able to grow her business. The terms and conditions are fair and rates are going down. Sirvard would like a loan to purchase additional cattle and seeds. This loan will help her increase the family income by twenty percent. She would like to save some money to renovate her house and start a dairy production business. She is pleased with her life and her wonderful husband, son, and daughter.
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.