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.
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.