This young man received his first loan from Kiva in 2007 and improved his business. He works in currency exchange and he did not change his business. Azer says, "I like my business. This business is very interesting."
He now needs a loan of 2000 AZN to buy equipment necessary for improving his business. He says, "Hi Kiva lenders. Thank you very much for the loan."
Komak means “help” in Azerbaijani. As of its creation in 1999, Komak has kept true to its name by helping thousands of Internally Displaced Persons, refugees and the economically disadvantaged by providing these groups with sustainable credit services. As of 2010 Komak’s $2.5 million portfolio serves 1513 clients, 81% of whom are IDPs, and 40% of borrowers are women. In 2009, Komak was cited in a report by the United Nations General Assembly as one of Azerbaijan's prominent forces in restoring the local economy by enabling small and medium enterprises with credit. For more on Komak, please join our lending team, Friends of Komak Credit Union.