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Rasim H. is a 47-year-old trader who sells cosmetics in the small village of Agsu city. Rasim is married and has five children! He started his business 20 years ago and, step by step, he achieved his goal and built his own store.

Rasim also works as a teacher in the local school but his salary is just not enough to cover his family's basic needs. Rasim is focused on developing his own business and for this purpose he applied for $1,500 loan to increase his income and pay for his children's university education.

Additional Information

About Aqroinvest:

Aqroinvest Credit Union was founded in 2001 by a group of 32 farmers from Imishli. It has since grown to become the largest credit union in Azerbaijan, owned by its more than 5,400 borrowers and boasting a portfolio of nearly US$12 million.
AqroInvest is focused on providing loans to the following groups of people: rural farmers, people living in distant southern villages with little or no access to finance and internally displaced people and refugees, many of whom lost their homes and livelihoods during the violent conflicts in the 1990s.

In May 2011, Aqroinvest started a new project with Kiva proving higher education loans to students. The project gives students the support and financing they need to continue their education and helps pay for tuition fees at various universities in Azerbaijan. Aqroinvest is the first credit union in the country to offer students loans.

About Azerbaijan

  • $10,800
    Average annual income
  • 30
    View loans »
    Azerbaijan Loans Fundraising
  • $14,344,150
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Rasim to increase number of items he sells.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
May 18, 2009
May 1, 2009
Currency Exchange Loss:
Sep 15, 2010