Babek Pahakhov

Thank you for your loan. It has been disbursed to Babek Pahakhov by Norwegian Microcredit LLC (Normicro) in Azerbaijan. We are excited to watch this business grow. Over the next 12 - 18 months, Norwegian Microcredit LLC (Normicro) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Babek runs a store selling fruits on the main commercial street in Saatli, a small town in the rural region of Azerbaijan. He started the business 2 years ago with 250 USD of savings he was able to accumulate while working as a construction worker in Moscow, Russia.

Babek used the loan he received from Kiva lenders through Normicro to diversify the types of fruits he sold. After the watermelon season ended, Babek purchased a large variety of fruits and vegetables including apples, oranges, pears, bananas, tomatoes, cucumbers and onions. Before he received credit, Babek said he was able to sell about 60 manat (approx. 1.2 USD = 1 manat) of produce. Today his daily sales has risen to 70-80 manat, thanks to the wider selection of produce he provides his customers.

Babek expressed that he was very happy to receive the loan which has contributed to his increase in income. He wishes to obtain another loan after repaying the current, which he will use to continue expanding the assortment of fruits and vegetables at his store.