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Martin lives in the Shirak region of Armenia, in the village of Hovouny. His close friends and relatives also live in Hovouny. It is a good place to be a farmer. Martin is happily married with three children: two daughters (ages twenty-one and twenty-seven) and a twenty-four-year-old son. He also supports his older daughter's family. Martin would like a loan to purchase seeds, fertilizer and fuel. With this investment, he expects the family income to increase by twenty percent. He is looking to reinvest his earnings in the family business.

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
  • 139
    View loans »
    Armenia Loans Fundraising
  • $16,733,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Martin to purchase seeds, fertilizer and fuel.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jan 27, 2012
Feb 22, 2012
Currency Exchange Loss:
Aug 15, 2012