Rima is from the village of Ashotck in the Shirak region of Armenia. She is married with two sons (27 and 30 years old). Rima has a high school education and has been farming for 30 years. She also helps one of her sons with his private business. Rima is a hardworking person who is devoted to her family. She would like a loan to purchase animal feed. She expects this investment to increase the family income by 10%. She is pleased with the favorable conditions of microfinance. Rima’s personal investment in her business is three times more than the amount of her debt and she is confident she will repay the debt.
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.