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Please feel free to attend any or all of the following events at the Masis Musical School:
2:30-3:30 Introduction of the AREGAK program to prospective clients in the town of Masis.
3:30-430 AREGAK Service Center Advi sory Board Meeting.
4:30-5:00 Meet AREGAK staff and tour the Masis Service Center (Ardshin Bank Masis)
5:00-5:30 Official opening of the Service
Center.
5:30-6:30 Celebration with traditional music and food.
Please RSVP to Mariam Yessayan:
Phone: ((3742) 248 141
151 894
Email: [email protected]
SERVICES PROVIDED
AREGAK is primarily involved in extending credit to rural businesswomen. Credit to first-time borrowers is extended for nine months for a maximum of $300 with equal monthly payments of principal and interest. Members who have successfully accessed and repaid credit are then offered twelve-month credits for a maximum of $420 with a three-month grace period on principal payments. All credits are provided at an effective interest rate of three percent per month.
GUARANTEE GROUPS
Instead of requiring collateral, as most banks do, AREGAK forms Guarantee Groups comprising five businesswomen who are often engaged in similar types of business. The women in the groups assist one another and guarantee that each member will repay their credit. A Guarantee Group is like a wheel with each member being a spoke. Only if all the spokes are strong will the wheel work properly.
SMALL BUSINESSES ARE
FAMILY BUSINESSES
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